The strategies include reducing income tax on salary through transition to retirement, death benefits payable to non-dependents through recycling, super fund accumulation earnings, and ordinary investment income via tax offsets.WellSamMoney Management...
Death benefits Pension and RA funds - The total lump sum is tax-free, but the annuities /pensions paid to dependants are taxable at the marginal rate. The lump sum must however be less than 50% of the entire death benefit. The difference being paid as annuities, will be taxable. Should...
In addition, women are less likely to have participated in superannuation schemes during their working lives or to have worked at all. As a result, they are more likely to depend on the age pension than men are. The average change in labour supply is about the same for married men with ...
The death benefit would be fully exempted from tax in the hands of the nominee whatever is the amount. Moreover, the exemption would not be allowed on policy benefits received under a Keyman insurance plan, under Section 80 DD (3) or under Section 80DDA (3) of the Income Tax Act, ...
Any payment made from a superannuation fund to an employee is exempt from tax only if it is made on the death of the employee, or in commutation of an annuity on his retirement at or after a specified age or on him becoming incapacitated. ...
The strategies include reducing income tax on salary through transition to retirement, death benefits payable to non-dependents through recycling, super fund accumulation earnings, and ordinary investment income via tax offsets.Well, SamMoney Management...