Oct 2, 2023 | Blog, Contributing to Super, SMSF, Superannuation, Superannuation Tax
Can I put redundancy into super? This is a good question and important to understand. Making contributions to superannuation can provide you with tax concessions and may result in you effectively paying less tax on your redundancy payment. Rolling a redundancy payment...
Sep 10, 2023 | Accessing Superannuation, Blog, Contributing to Super, Retirement Income Streams, Superannuation
Wondering what happens to your super when you stop working? Superannuation is a vehicle designed to help you save towards retirement and cover expenses when you decide to stop working. You might associate superannuation with the place that your employer makes...
Sep 10, 2023 | Accessing Superannuation, Blog, Centrelink, Superannuation
The average retirement age in Australia in 2023 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...
Sep 10, 2023 | Accessing Superannuation, Blog, SMSF, Superannuation
Are you wondering if you can use your super to buy a car? Most standard superannuation funds have a limited investment menu. These options usually include managed funds, term deposits and possibly ASX-listed shares. A self managed superannuation fund (SMSF) provides...
Sep 8, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation, Superannuation Tax
There are a few disadvantages associated with Transition to Retirement income streams that one should be aware of prior to implementing such a strategy. A superannuation Transition to Retirement (TTR) income stream pension is commenced using some or all of your...
Sep 8, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation
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...
Sep 7, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, SMSF, Superannuation
This minimum pension calculator allows you to calculate the minimum pension income to be drawn from your superannuation pension. The calculation applies to both Account Based Pensions and Non-Commutable Account Based Pensions. Account Based Pensions are often also...
Sep 7, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, SMSF, Superannuation, Superannuation Tax
A transition to retirement allocated pension is a type of superannuation income stream. Some or all of a member’s superannuation accumulation balance can be used to start a transition to retirement allocated pension. A transition to retirement pension is...
Sep 6, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation
This article discusses transition to retirement pensions for people over age 65. It explains why individuals over age 65 will never have a transition to retirement (TTR) pension. A transition to retirement pension provides access to superannuation for people who have...
Sep 6, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation, Superannuation Tax
The transition to retirement rules relate to transition to retirement income streams (TRIS), commonly referred to as Transition to Retirement (TTR) Pensions. Traditionally, people would work up until a certain age, then retire and begin drawing an income stream from...