Sep 30, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation
Prior to figuring out how to withdraw super, you must first determine if you are allowed to access your super. In order to access your superannuation savings you must first meet a superannuation condition of release. The most common ways of meeting a condition of...
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, Contributing to Super, Retirement Income Streams, Superannuation
Can I withdraw my super at 65 and keep working? This is a common question. Firstly, in order to access your superannuation, you need to meet a superannuation ‘Condition of Release’. There are a number of different ‘Conditions of Release’. The...
Sep 9, 2023 | Blog, Centrelink, Retirement Income Streams, SMSF, Superannuation
What is a commutation payment? Commutations are a withdrawals made from the capital supporting an account based pension. Commutations may affect Centrelink entitlements. The extent to which commutations affect Centrelink entitlements depends on a few factors, which...
Sep 9, 2023 | 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)...
Sep 9, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation
Are you over age 60 and want to know if you can use some of your superannuation? This article discusses how you can use some of your superannuation over age 60, including the forms in which you can access it and any tax that may be payable. There are four main ways...
Sep 8, 2023 | 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. This enables them to asses the amount of the income stream that should be assessed for ‘income...
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...