How generous is the tax on super?

An interesting article by Tony Negline in 'selfmanagedsuper' about the 'real' average rate of tax that we pay and what it means for the $1.6m transfer balance cap.

Key takeaway points from the article:

  • ​You need personal income of more than $1.7m to be paying an AVERAGE of 49% tax on your total income.
  • You need personal income of $43,350 to have an average of 15% tax on that income, this equates to approx $1.46m of term deposits paying 3% interest.
Tracey Besters 

To access the article click on the image below...

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