Media Super has merged with Cbus. Therefore, when you open a Transition to Retirement (TTR) account or Super Income Stream (SIS) account, you’ll be welcomed into the Cbus Super fold.
Investing in super can save you tax
Super is one of the most tax-effective ways of saving for retirement. When you invest directly in term deposits, shares or property, you may be taxed up to 49% plus the Medicare levy. However, by investing in a super income stream you’ll benefit from considerable tax advantages.
More money for you
Once you reach age 60 you pay no tax on your Cbus Super Income Stream, whether you receive regular income payments or withdraw lump sum amounts. Plus, there’s no tax on your investment earnings if you’re in the Fully Retired option and if you’re in the Transition to Retirement option earnings are taxed at up to 15%.
You’ll enjoy extra cash to spend on holidays, grandkids and a quality lifestyle.
If you’re under 60 years of age, your income payments will be subject to tax plus the Medicare Levy, less a 15% rebate.
Income tax is deducted from payments in the same way a company pays tax on your salary before you receive payment. We’ll send you a PAYG certificate each year, together with information you need to complete your tax return.
The tax on income streams can be complex, so we recommend you call Cbus Advice Services before making any decisions.
We're here to help
Call and speak with an adviser today. It’s at no additional cost and our advisers can help you understand your options, what you need to consider before making any changes and provide a personal recommendation on topics like which investment option to choose, super contributions or starting a Super Income Stream.