Super Sucks, I’m Outta Here!

Hi Scott,

I have a pre-tax income of $64,000 a year, and my wife does not work. In December 2016 I will be able to withdraw $195,000 tax free from my AustralianSuper account. I plan to invest most of this money in the share market. My question is, am I better off to buy the shares in my wife’s name, my name or joint names?

Regards,

Steve

Hey Steve,

Why would you want to do that? You should keep the money in super, where you pay no capital gains tax and and no tax on income once you’re in the pension phase (and by the way, you can still invest in direct shares through your super via their ‘member direct option’). It’s the best deal ever. Super at your age is the equivalent of a packet of Tim Tams that never runs out -- don’t stuff it up!

Scott