Even for the poor, anyone with superannuation may be caught paying a tax when it passes on to your beneficiaries.
Basically, your super may be split into a taxable and non-taxable part. And you have to pay 15% on the taxable part when it is withdrawn. So, when you die, that 15% of the taxable part has to be paid.
There are ways to avoid this. Best to speak to a financial adviser, as it depends on age, financial position etc.
This is not financial advice. I am not a financial adviser.
Even for the poor, anyone with superannuation may be caught paying a tax when it passes on to your beneficiaries.
Basically, your super may be split into a taxable and non-taxable part. And you have to pay 15% on the taxable part when it is withdrawn. So, when you die, that 15% of the taxable part has to be paid.
There are ways to avoid this. Best to speak to a financial adviser, as it depends on age, financial position etc.
This is not financial advice. I am not a financial adviser.