Not quite. There is a $1.6M cap for the purposes of the tax free component for over 60's receiving a pension or annuity from their superannuation. The fund itself can have as much in it as you can mange to get by saving and investing.
A 63 year old drawing an annuity from their super fund with a balance of $15million with $12m of that invested in companies paying fully franked dividends would still be able to offset some of the company tax paid against his 15% tax paid on earnings on the $13.4M in accumulation mode.
- Forums
- ASX - General
- Labor to scrap franking credit refund...This will be front page news today....
Labor to scrap franking credit refund...This will be front page news today...., page-83
-
- There are more pages in this discussion • 216 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)