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CGT within Super

CGT within Super

and Pension Explanation

and Pension Explanation

 

Acting on your feedback we have updated our Product Disclosure Statement to include a brief explanation on Capital Gains Tax and how that works within a superannuation and pension environment. Below is the explanatory text that will be included within the relevant Product Disclosure Statements.

Accumulation and pre-retirement pension

“A net capital gain realised upon the sale of assets is also included in the fund’s assessable income for tax purposes. For assets held for more than 12 months, only 2/3 of the net capital gain is assessable. Tax costs due to realised capital gains are reflected in the unit price of your investment option.

A provision is also made for future estimated tax liabilities associated with unrealised capital gains and losses on assets held by the fund and is also reflected in the unit price of your investment option. When withdrawing from an investment option or switching, capital gains tax is not separately deducted from your account. This is because an estimate of future tax on unrealised capital gains has already been factored in.”


Retirement Pension

"The fund does not pay tax on retirement pension investment options – this includes where you commence an allocated pension or once your pre-retirement pension has become a retirement phase income stream (for example where you have retired or reached age 65)."

Disclaimer

Adviser Use Only

Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (Colonial First State) is the issuer of FirstChoice Personal Super, FirstChoice Wholesale Personal Super, FirstChoice Pension, FirstChoice Wholesale Pension, FirstChoice Employer Super offered from the Colonial First State FirstChoice Superannuation Trust ABN 26 458 298 557. It also issues interests in the Rollover & Superannuation Fund (ROSCO) and Personal Pension Plan (PPP) offered from the Colonial First State Rollover & Superannuation Fund ABN 88 854 638 840. Colonial First State also issues interests in products made available under FirstChoice Investments and FirstChoice Wholesale Investments. This is based on the understanding of current regulatory requirements and laws as at 14 March 2019. While all care has been taken in the preparation of this document (using sources believed to be reliable and accurate), to the maximum extent permitted by law, no person including Colonial First State or any member of the Commonwealth Bank group of companies, accepts responsibility for any loss suffered by any person arising from reliance on this information. This document provides information for the adviser only and is not to be handed on to any investor. It does not take into account any person’s individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) before making any recommendations to a client. Clients should read the PDS and FSG before making an investment decision and consider talking to a financial adviser. The PDS and FSG can be obtained from or by calling us on 13 18 36.

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