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Access To Superannuation After Age 60

There are three ways to gain access to superannuation after age 60. One such way will only provide limited access. The other two ways will provide full access. In every case, an individual is required to meet a superannuation condition of release in order to access their superannuation savings. Attaining age 60…

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Super Lump Sum Payments Over 60

Lump sum payments from superannuation for people over age 60 are generally favourably taxed. However, you first need to make sure that you are able to access your super before making a lump sum withdrawal from super over age 60, because being over age 60 does not, in itself, give…

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Calculating Notional Earnings (Transfer Balance Cap)

Calculating the notional earnings in relation to the Transfer Balance Cap is important in determining the amount that will need to be removed from retirement/pension phase of superannuation as a result of exceeding the Transfer Balance Cap under the new superannuation rules from 1 July 2017. The notional earnings will also…

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Why Is Superannuation Important For You?

Why is superannuation so important? To understand this, we need to know what superannuation is. Put simply, superannuation in Australia is a vehicle that allows us to save for retirement in a tax effective manner. Contributions are made into your superannuation account (or accounts). These contributions are invested into assets…

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