Mar 19, 2017 | Accessing Superannuation, Blog, Superannuation
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...
Mar 16, 2017 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation, Superannuation Tax
There are two ways that you can access your superannuation at age 60 and still work. One such way involves limited access to your superannuation and the other provides full access to your superannuation. You can, in fact, access your superannuation as soon as you...
Mar 15, 2017 | Accessing Superannuation, Blog, Retirement Income Streams, SMSF, Superannuation, Superannuation Tax
This article addresses whether you are able to access your superannuation savings at age 55 and still continue to work. It will also explain how much tax might be payable and when you can access your super tax free. You may have heard of people in your workplace or...
Mar 13, 2017 | Blog, Retirement Income Streams, Superannuation, Superannuation Tax
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...
Mar 8, 2017 | Blog, Contributing to Super, Superannuation, Superannuation Tax
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...
Mar 5, 2017 | Accessing Superannuation, Blog, Contributing to Super, Retirement Income Streams, Superannuation, Superannuation Tax
What are the superannuation rules for individuals aged over 65? In this article we’ll be covering off on accessing superannuation rules for people over aged 65, as well as contribution rules for people aged over 65. Click here to find out how a person aged 57...
Mar 1, 2017 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation, Superannuation Tax
Accessing superannuation requires you to meet a superannuation condition of release. Generally, this first opportunity that you have to meet a condition of release is by reaching your superannuation preservation age. The superannuation preservation age for people born...
Feb 27, 2017 | Blog, Featured, Retirement Income Streams, Superannuation, Superannuation Tax
Excess transfer balance tax relates to the tax imposed on notional earnings resulting from an amount in excess of the Transfer Balance Cap being used to commence an income stream. Based on new superannuation rules and changes from 1 July 2017, the maximum amount that...
Feb 22, 2017 | Accessing Superannuation, Blog, Featured, Retirement Income Streams, Superannuation, Superannuation Tax
Are you wondering how the Transfer Balance Cap applies to your defined benefit pension and defined benefits payments in excess of the cap are taxed? Read on. With an account based pension, a maximum of $1.6 Million can be used to commence the pension (indexed in line...
Feb 20, 2017 | Blog, Featured, Retirement Income Streams, Superannuation
What portion of a transition to retirement (TTR) Pension or transition to retirement income stream (TRIS) counts towards the Transfer Balance Cap? A TTR Pension is a pension commenced by an individual between their superannuation Preservation Age and age 65 while they...
Feb 19, 2017 | Blog, Featured, Retirement Income Streams, Superannuation, Superannuation Tax
What is the taxable component in superannuation? There are two main tax components that make up a superannuation balance. These components are the Taxable Component and the Tax-Free Component (sometimes referred to as the Exempt Component). The Taxable Component is...
Feb 18, 2017 | Blog, Contributing to Super, Featured, Superannuation
The Low Income Superannuation Contribution is a superannuation payment made by the Government into the superannuation account of Low Income Earners to help them save for retirement. How Much is the Low Income Superannuation Contribution? You may be eligible to receive...
Feb 17, 2017 | Accessing Superannuation, Blog, Featured, Retirement Income Streams, Superannuation, Superannuation Tax
The superannuation transfer balance cap of $1.6 million is a new measure set to be introduced from 1 July 2017. This is a further shift towards reducing the tax-effectiveness of the superannuation environment for high-net worth individuals. So, how does the $1.6...
Feb 15, 2017 | Blog, Contributing to Super, Featured, Superannuation
So, how do the catch-up provisions for unused Concessional Contributions work? And how can these unused Concessional Contributions be carried-forward? This article will explain the conditions that need to be met so that an individual can utilise the Concessional...
Feb 12, 2017 | Blog, Contributing to Super, Featured, Superannuation, Superannuation Tax
The excess Concessional Contribution Charge (ECCC) is an additional tax payable by an individual resulting from the fact that they will be paying income tax later than when it would have been ordinarily due. Let’s rewind. When a person earns income, they are...
