Trish Power
Trish Power is an author and journalist who lived a former life as a superannuation tech-head. She is the author of super bible, Superannuation For Dummies, 2nd Edition (Wiley).
Trish describes much of her financial writing as educative journalism. She is passionately committed to raising the level of financial literacy in Australia and empowering individuals to improve their financial circumstances.
Trish has worked on member communication campaigns for some of the largest superannuation funds in Australia, and spent several years educating and advising the community and industry on super while employed with the industry regulator. Trish has both a law degree and an economics/commerce degree from the University of Melbourne, and holds a professional writing and editing qualification from RMIT University.
Trish is interviewed regularly on radio and presents at educational seminars, typically speaking about investing, superannuation, property, and women and investing. She is the author of the following books:
*How to make $300,000 without trying! (30 ways to save your super) (Wilkinson Publishing)
*DIY Super For Dummies (available October 2009) (Wiley)
*Superannuation: Planning Your Retirement For Dummies (Wiley)
*DEAR TRISH… DIY SUPER: 101 Q and As (Wilkinson Publishing)
*Superannuation For Dummies (Wiley)
*Superannuation: Choosing A Fund For Dummies (Wiley)
*Dear Trish: Super – Tax-free Superannuation Dollars For You (Wilkinson Publishing)
*You Don’t Have To Be Rich To Become Wealthy: The Baby Boomers Investment Bible (co-author) (Wrightbooks)
Trish lives in Melbourne with her partner.
By Trish Power on August 31, 2010
Q: I turned 64 in January 2010. My understanding is that because I am under 65 for part of the 2010/2011 financial year then I can exercise the bring forward provisions and make non-concessional contributions up to $450,000 before I turn 65. Is this correct?
Superannuation categories Boost your super, Retirement planning Superannuation topics Age 65 and over, Age 75 and over, Bring-forward rules, Non-concessional contributions, Non-concessional contributions cap, Q&A, Under 65, Under 75, Work test
By Trish Power on August 31, 2010
Q: If an individual turns 50 years of age during the financial year, could the increased concessional contributions cap for over-50s apply, or would that individual need to be 50 for the full financial year? According to the legislation, the transitional over-50s cap applies…
Superannuation categories Boost your super, Retirement planning Superannuation topics Age 50 and over, Concessional contributions, Concessional contributions cap, Income Tax (transitional provisions) Act 1997, Q&A, Under 50
By Trish Power on August 31, 2010
Q: I’m 59 years of age and in March I lost my job. I have since been trying to find work but due to my age I’m finding it excessively hard. After much discussion with my wife we have decided that the best option would be for me to retire. As she earns a decent wage, I am unable to receive government assistance…
Superannuation categories Accessing super, Retirement planning Superannuation topics Age 50 and over, Age 65 and over, Australian Prudential Regulation Authority (APRA), Centrelink, Compassionate grounds, Condition of release, Financial advice, Financial counselling, Financial Information Service, Mortgage stress, Q&A, Retirement, Tax-free super, Under 65
By Trish Power on August 31, 2010
Q: If I make a personal concessional payment of $50,000 (tax-deductible) and a personal $150,000 non-concessional payment into my SMSF and my personal taxable income for 2010/2011 is $40,000, are there possible tax penalties because I’m claiming $10,000 more than my taxable income…
Superannuation categories Boost your super, Super & tax Superannuation topics ATO, Bring forward, Concessional contributions, Non-concessional contributions, Q&A, Self-employed, Tax-deductible contributions
By Trish Power on August 31, 2010
Q: I am female and I will be 66 in a few weeks. My husband died in Mexico and my savings of $9,000 were used up to bring him home and funeral expenses. Since then I have been trying to save the money again but to no avail. I need urgent dental, optical treatment and since I haven’t been able to save it I have not been able to do this for three years. I currently have a super fund which dwindles by a few thousand each year, and I have yet to see it grow…
Superannuation categories Accessing super, Super basics Superannuation topics Age 65 and over, Choosing a fund, Life insurance, Q&A, Retirement, Under 65
By Trish Power on August 30, 2010
Q: I am in partnership in a franchise business that needs some financial input at this time. We have been struggling since the beginning of the recent financial crisis, and have fallen behind on rent and we are just managing to keep up with service providers.
Superannuation categories Accessing super, Super & tax Superannuation topics Accessing super early, Age 50 and over, Australian Prudential Regulation Authority (APRA), Centrelink, Compassionate grounds, Condition of release, Mortgage stress, Preservation, Preservation age, Q&A, Retirement, Severe financial hardship, Transition-to-retirement pensions (TRIPs), Trustees, Under 65
By Trish Power on August 30, 2010
Q: Can I set up a self managed super fund (SMSF) and invest the funds in a company of which I am the sole director? If yes, will the earnings of the super fund be tax free and would my drawings from the fund be tax free?
Superannuation categories DIY super Superannuation topics Age 65 and over, Cooper Review, Earnings tax, In-house assets, Non-arms length income, Private company dividends, Q&A, Related party, Self-managed super funds (SMSFs), SMSF investments, Special income, Super System Review, Tax-free super, Under 65
By Trish Power on August 30, 2010
Q: I’m finding many aspects of taxation to be quite difficult to understand. Terms such as “Tax free/ taxable component; Restricted, Preserved”. Is there one of your books that would be a useful guide to me in this undertaking?
Superannuation categories DIY super, Super & tax Superannuation topics ATO, Dear Trish, DIY Super For Dummies, Grant Abbott, Max Newnham, Peter Bishell, Q&A, Restricted benefit, Self-managed super funds (SMSFs), SMSF trustee, Super books, Superannuation Australia, Tax-free component, Taxable component, Tony Negline
By Trish Power on August 30, 2010
Q: My employer has suddenly ceased trading and despite appearing on weekly payslips, I find no super contributions have been made for over 12 months.
Superannuation categories Boost your super, Super basics Superannuation topics ATO, Australian Business Number (ABN), Concessional contributions, Federal Government's General Employee Entitlements and Redundancy Scheme, Non-concessional contributions, Non-payment of SG, Q&A, Salary sacrifice, SG deadlines, Super for Beginners, Superannuation guarantee (SG), Tax file number (TFN)
By Trish Power on August 30, 2010
Q: What steps can I take to ensure my employer contributes all I’m owed to my super fund? ‘m a non-resident who has just been refused a visa to stay longer in the country.
Superannuation categories Boost your super, Comparing funds, Super basics Superannuation topics ATO, Australian Business Number (ABN), Departing Australia Superannuation Payment (DASP), Non-payment of SG, Q&A, SG deadlines, Super contributions, Super for Beginners, Superannuation guarantee (SG), Tax file number (TFN)
By Trish Power on August 30, 2010
Q: My SMSF super is % in account based pension began in 2009 and part % in accumulation. I am considering changing all back to accumulation and I think this is called an internal rollover? I have conflicting advice on the meaning of commutation, some sources saying it is only if you receive a lump sum payment in cash from pension.
Superannuation categories DIY super, Retirement planning Superannuation topics Accumulation phase, Commutation, Income stream, Internal rollover, Lump sums, Pension phase, Pensions, Q&A, Self-managed super funds (SMSFs), Tax-free component, Taxable component
By Trish Power on August 18, 2010
The ridiculous commentary on the colour of Julia Gillard’s hair, the countless references to Tony Abbott’s speedos (aka “budgie smugglers’) and the absurd feud between the former ALP leader, Mark Latham and long-time Channel 9 journalist Laurie Oakes, meant that the key issues facing our country at election time have been largely ignored by the main media outlets.
Superannuation categories Super basics, THE SOAPBOX Superannuation topics 2010 Federal Election, Andrew Peacock, Barnaby Joyce, Dunderhead comments, Joe Hockey, Julia Gillard, Laurie Oakes, Mark Latham, Moving forward, Tony Abbott
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Hi - I'm Trish Power, author of Superannuation For Dummies and many other books on super and investing.
2010 Federal Election: Top 10 dunderhead comments
By Trish Power on August 18, 2010
The ridiculous commentary on the colour of Julia Gillard’s hair, the countless references to Tony Abbott’s speedos (aka “budgie smugglers’) and the absurd feud between the former ALP leader, Mark Latham and long-time Channel 9 journalist Laurie Oakes, meant that the key issues facing our country at election time have been largely ignored by the main media outlets.
Superannuation categories Super basics, THE SOAPBOX Superannuation topics 2010 Federal Election, Andrew Peacock, Barnaby Joyce, Dunderhead comments, Joe Hockey, Julia Gillard, Laurie Oakes, Mark Latham, Moving forward, Tony Abbott