Income – not always what it appears to be

A person’s age pension entitlement is based on several factors. Their age this is the obvious factor. Are they single or a member of a couple? Do they own their home or are they are renting? However, the overriding consideration in determining a person’s correct entitlement is the application of the assets ...

More about super contributions

A couple of weeks’ back I covered the rules around the timing of superannuation contributions. In line with the same theme, I thought it would be worthwhile to revisit some other important things to keep in mind about contributions, especially considering some of the significant changes that came into effect from ...

Planning on making super contributions this financial year?

As we move into the start of the fourth quarter of the financial year, it is timely that we turn our mind to tax planning and the things we need to be considering as 30 June looms ahead. Firstly, you need to be very mindful of the correct timing of superannuation ...

Age Pension and the Superannuation Sweet Spot?

What am I talking about? I will try and provide a very simple explanation.  The “Superannuation Sweet Spot” is recent terminology referring to the amount of money a person or couple needs to have saved in superannuation to ensure they achieve a reasonable level of income while maximizing their age pension. There ...

Scared of losing your marbles… or just your super?

We have previously written on a number of occasions about the risks of internet-driven identity theft and perhaps, more importantly, the theft of our hard-earned savings. But did you know that thousands of Australians have indirectly ‘given’ billions of dollars of their super to the Australian Taxation Office (ATO)? This is not ...

Downsizer Contributions – value for some is questionable!

In November 2017, legislation was passed that will allow certain individuals who sell their main residence to contribute up to $300,000 of the sale proceeds to superannuation without being constrained by the usual restrictions that otherwise apply to contributions including contribution caps and work requirements. The value of homes in most ...

 

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