Tax on transfers and rollovers between super funds


Tax on transfers and rollovers between super funds

Generally, transfers to or from other super funds are not taxed. However transfers from some government funds may include an ‘untaxed element’, which may be subject to tax.

If you are transferring over an untaxed element from another fund (including ESSSuper’s Beneficiary Account) to your Accumulation Plan account, ESSSuper will deduct 15% contributions tax from the untaxed element upon deposit into the Accumulation Plan. If the amount of the untaxed element is above $1,480,000*, the transferring fund must also withhold tax at 47% including Medicare levy on the amount above $1,480,000 at the time of the transfer.

* Untaxed plan cap amount current for the 2018/19 financial year.