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Question

What is my tax-free component?

Answer

A tax-free component comprises two parts.

1. A contributions segment. Your contributions made from 1 July 2007 which have not been taxed by the Fund eg your personal after tax contributions and any Federal Government co-contributions.


2. A Crystallised Segment. Any concessionally taxed components which existed prior to 1 July 2007 Typically, these are any




• Pre July 1983 component


• Post June 1994 Invalidity component


• Capital gains tax exempt component


• Any undeducted contributions made since 1 July 1983

Superannuation funds have until 30 June 2008 to crystallise these components and once calculated this segment will NOT change in the future and will form part of the tax free component. First State Super benefits have already had this segment crystallised.

For further information see the Tax on withdrawals supplement.

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