Making tax time easy
On top of the tax benefits an SMSF provides, Stake Super makes SMSF compliance easy.
For those with an array of investments, 30 June is circled on the calendar with mixed emotions. Above all else, the end of the financial year signals the start of tax season. Complexity aside, the tax bill on foreign and local stock and crypto portfolios can quickly add up for ambitious investors.
Self Managed Super Funds can provide a tax-efficient solution. Both short and long term investors are rewarded with discounted tax rates on capital gains.
To start, for investments held for under 12 months, capital gains are taxed at a 15% tax rate rather than being added to personal assessable income. Investments made under an individual’s name can be taxed at up to 45%. The Self-managed super fund structure can assist in reducing such a tax burden.
Long term capital gains, those investments held for more than a year, are taxed at just a 10% rate. This is in comparison to the maximum rate of 22.5% payable when investing as an individual.
The benefits continue. Once Self-managed super fund members pass their 60th birthday, income withdrawn from their fund is not taxed in most instances.
When more than one person is added to the fund, other strategies can be implemented around assigning gains to different members to maximise an SMSF’s tax savings. Such practices are more complex than standard but can be incredibly worthwhile.
For those looking to gain taxation benefits through super, Stake Super offers an easy self-managed super fund set up and accountants that assist with setting up tax-efficient structures to maximise benefits. Make the switch today and start your 60-second SMSF transfer.
We do not provide financial product advice, nor recommend that a self managed super fund (‘SMSF’) may be suitable for you. There are risks and differences of an SMSF compared to an APRA regulated fund. Your personal situation has not been taken into account. Stake SMSF Pty Ltd (‘Stake Super’) is not licensed to provide financial product advice under the Corporations Act. This specifically applies to any financial products which are established if you instruct Stake Super to set up an SMSF. When you sign up to Stake Super, you are contracting with Stake SMSF Pty Ltd who will assist in the establishment of an SMSF under a ‘no advice model'.