Financial Planner Luke Smith joined 2CC Talking Canberra in Money Matters, which aired live on Friday 28 November 2025. The topic for this week is one all Australians need to pay attention to as not taking the right action can cost you tens of thousands of dollars in tax. This week Luke explores how to avoid tax on super when you die. Did you know that if you leave super to non-dependants they are taxed? While we don’t have any death taxes in Australia this looks and acts like it. Seeking good advice about financial planning including estate planning in regard to super and pensions can deliver you with more certain outcomes.

But before they start the show Luke and Leon have a quick chat about the new Bureau of Meteorology website which cost taxpayers $98 million dollars! Let’s hope someone is held accountable for this outrageous waste of public money. 

Thank you for joining us live on 2CC, YouTube, Spotify or your favourite podcast streaming service for ‘The Strategy Stacker – Luke Talks Money’.

Key topics covered include:

• If you’re over 60 your super is tax free – but only for you! 


• Luke shares the experiences in his office where there’s client disbelief about such a tax on super could exist! 


• How does tax on super work?


• Remember that are two components of super in tax terms, a taxable component, and a tax-free component.


• The taxable component is the one you need to pay attention to in regard to tax when you pass.


• How do I find out what my taxable component is?


• The tax applies to those who are over 18 and are non-dependant.


• How can I turn the taxable component into a tax-free component? It’s a little tricky but not impossibly complex.


• Essentially you make use of the re-contribution strategy. 


• How much can I put back into super so it will be a tax-free component? 


• Make sure you re-contribute it as a tax-free contribution.


• Luke provides an example of the strategy in action. 


• Remember, when you start a pension the tax outcomes are locked in depending on your components.


• It therefore is important to plan sooner rather than later! 


• Can you have a second super and second pension account – Yes you can and it makes sense in the case of the recontribution strategy. 


• Luke shares his tips to help you navigate the tax on super issue and using the re-contribution strategy. 

 

Our podcast is also available on Apple Podcasts, Spotify and YouTube – ‘The Strategy Stacker – Luke Talks Money’

 

Do you need help planning your super, retirement and estate planning?

<figure class="wp-caption alignright" id="attachment_19426" style="width: 300px;"><figcaption class="wp-caption-text" id="caption-attachment-19426">How to avoid tax on your super when you die? Luke thinks it should definitely be part of a retirement plan, but most people think we don’t have death taxes in Australia. Make an appointment to meet with Luke if you need help.</figcaption></figure>

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals, including investment, super and retirement (including transition to retirement). Simply make an appointment to confidentially discuss your goals. Call Envision Financial Services on 6260 4749. You can use the contact us form to make an appointment, for a confidential discussion about your own goals and situation. Luke can also refer you to an estate planning solicitor within his network at no cost. 

Luke will return to 2CC to talk about other ‘Money Matters’ next week, we hope you can join us. You can also catch up with ‘The Strategy Stacker – Luke Talks Money’ podcast at a time that suits you.

We look forward to your company again. Luke’s book Smart Money Strategy is out now.