How your super is taxed (and how to get more out of it)

sk experts how superannuation is taxed, and their answer will be some version of: “How long have you got?”

That means for the year you can contribute another $17,000 of pre-tax income to super, before you hit the $27,500 cap.If you are earning $37,000 or less, the 15 per cent you have been taxed on your super will be refunded to you through the low-income super tax offset , up to the value of $500.under the division 293 taxYou can also put more money into your super from your after-tax income. These are called non-concessional contributions.

So, you’ve put the money into your superannuation fund, it has been invested, and it is now earning a decent return. The second way to transfer super is through spouse contributions. These are generally taxed as non-concessional contributions, and because they’re coming from your after-tax income, the cash you send to your partner’s super fund will have already been taxed at your own marginal tax rate.

You can put up to $3000 into your partner’s super, and you will receive a tax offset of 18 per cent , of up to $540.Do I get taxed when I withdraw super?. Let’s start with retirement age, and then work down from there. “So basically, the tax planning opportunities [when] withdrawing your super between the preservation age and 60 are rapidly narrowing. There’s only about one year possibility there.”

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