The tax advantages of superannuation
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Use 'before-tax' money
Some contributions may be made from before-tax money. They may also qualify for a tax deduction or rebate.
Concessional tax environment
Your benefits grow in a concessional tax environment, with the maximum tax rate of 15% on fund earnings. Lump sum payments are generally concessionally taxed.
Income streams such as allocated pensions or allocated annuities, may defer or eliminate lump sum tax, and may qualify for a 15% tax rebate.
Long term growth
Your benefits can grow along with the tax advantages, the longer your money stays in super.
Westpac can help
Our Financial Planners1 can show you how strategies work such as spouse super and salary sacrificing. They can also help to assess the suitability for employees. Ask us for advice now.
Things you should know
1. Westpac Financial Planners are representatives of Westpac Banking Corporation, AFSL No 233714.
The tax position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretations. Customers must seek their own independent tax advice in relation to their individual circumstances.