Recently I've received a number of emails asking about the death tax of 16.5% on the taxable portion of a superannuation payout that is left to a non-dependant. In this context, a spouse is always a dependant, whether they are working or not.One way to lessen the death tax is to ...
For one, its retirement system is based on individual retirement (“superannuation”) accounts, not a defined benefit system like US social security. So Federal debt risk is less, with individuals absorbing some of the pain of external shocks. Taxes are high and there is a national VAT tax, ...