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 | Blog, SMSF, SMSF Property, Superannuation
It is possible to use your superannuation to purchase land. Your super fund’s investment menu and investment strategy will determine how you can invest your super. For ordinary Industry Super funds or Public Offer fund, the investment menu is somewhat limited....
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, Superannuation
Combining your superannuation accounts is important for many reasons. This article addresses the importance of combining your superannuation accounts and how to combine your super or transfer super from one account to another. Combining superannuation is also commonly...
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...
Sep 6, 2023 | 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...
Sep 5, 2023 | Blog, Centrelink, Retirement Income Streams, Superannuation
The Centrelink Assets Test for superannuation savings is determined by your age and the value of your super accumulation and pension assets. Centrelink applies both an Assets Test and an Income Test. The test that results in you receiving the lower social security...
Sep 5, 2023 | Accessing Superannuation, Blog, Centrelink, Superannuation
What age can you retire? This is a strange question. I think it is asked either because people have different interpretations of the word ‘retire’ or because the majority of us so ingrained with the 3 common stages of life – learn, earn, retire. We...
Sep 5, 2023 | 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...
Sep 5, 2023 | Blog, Centrelink, Retirement Income Streams, Superannuation
The deductible amount definition for Centrelink and DVA purposes refers to the amount of income received from an account based pension, allocated pension or defined benefit pension that is not assessed under the ‘Income Test’ When completing documentation...