Oct 11, 2018 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation, Superannuation Tax
The best time to retire for tax purposes in Australia is largely determined by superannuation rules. In saying that, the level of retirement income you need will also be a consideration. This article will assume that you have adequate funds to retire and are simply...
Oct 9, 2018 | Blog, Centrelink, Retirement Income Streams, SMSF, Superannuation
The Centrelink schedule example shown below includes the information required by Centrelink/DVA for recipients who have an income stream product. The details in a Centrelink schedule can be used to complete the Centrelink Details of an income stream product (SA330)...
Oct 5, 2018 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, SMSF, Superannuation
The Centrelink treatment of lump sum withdrawals from super is important to understand. There are a number of ways that lump sum withdrawals can be made from super and each way is assessed by Centrelink differently. Making one lump sum withdrawal from super has the...
Oct 4, 2018 | Blog, Centrelink, Retirement Income Streams, Superannuation
The defined benefit pension Centrelink asset test is based upon the capital value of the income stream. The nature of defined benefit pension income streams is that they do not have a capital value. If you refer to your defined benefit income stream schedule for...
Oct 2, 2018 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation
The retirement age for women, based upon the general concept or definition of retirement, is no different between men and women. Therefore, the retirement age for women in Australia is the same as the retirement age for men. I define retirement as the ability to cover...
Sep 12, 2018 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, Superannuation
The partial commutation of an account based pension is where a portion of the capital value of the pension is withdrawn or rolled back to superannuation accumulation phase or withdrawn from super entirely. Partial commutations of account based pensions are usually...
Sep 10, 2018 | Accessing Superannuation, Blog, Centrelink, Superannuation
The average retirement age in Australia in 2018 is difficult to determine. The reason it is difficult to determine is because the definition of retirement has evolved over the past decade or so. How do you define the term retirement? There is actually a definition of...
Aug 8, 2018 | Blog, Centrelink, Retirement Income Streams
A Centrelink Schedule is generally a one page document that is used to inform Centrelink of the various components relating to your superannuation income stream, so that they are able to asses the amount of the income stream that should be assessed for ‘income...
Jul 12, 2018 | Accessing Superannuation, Blog, Centrelink, Retirement Income Streams, SMSF, Superannuation
If you are Australian born in the 1960s, and wondering when you can retire, then you have come to the right place. Everything here is groovy my little flower child. Your afro is long-gone and you’ve replaced your bell-bottoms with cargos and crocs; but now...
Jul 6, 2018 | Accessing Superannuation, Blog, Centrelink, Superannuation
Early access to superannuation via the Severe Financial Hardship Superannuation provisions is a complex area of Superannuation law. It is imperative that you consult a professional superannuation adviser and the trustee of your superannuation fund prior to withdrawing...
