In our latest video, Taxation at Benefit Level – Lump Sums we explain what tax is payable when a member withdraws a lump sum from their superannuation fund. We use case studies to demonstrate the importance of a member’s superannuation components within their member balance and show the difference a person’s age has on the tax payable on their withdrawals.
As every person contributes to superannuation with a view of eventually withdrawing their savings at some point in time in the future, its imperative for all Self Managed Superannuation Fund members to be aware of what tax they might incur when accessing their superannuation benefits as a lump sum.
