Tax-free super for over-60s
If you’re aged 60 and retired, you can receive your superannuation benefits tax-free — as a lump sum or as an income stream (regular payments over a period of time). It sounds incredible but it is certainly true. You can enjoy a tax-free income in retirement assuming you have sufficient super savings to deliver you that regular income in retirement.
Super for beginners, part 17: Four must-knows about super’s tax rules
If it were not for tax, superannuation wouldn’t exist.
A comfortable retirement: How much super is enough?
So, the big question is: how much money do you really need for your retirement? Lifestyle is a very personal thing —luxury living for one person is a modest existence for someone else.
Are you eligible for a Commonwealth Seniors Health Card?
The question is a popular one among prospective retirees, and the answer can be best explained by dividing the question into four parts.
Super for beginners, part 20: Comparing your super fund’s performance
Every month or two (or more recently, every week it seems) the media reports the latest returns from Australia’s largest super funds.
FEEding frenzy: super fund fees
When superannuation funds are delivering strong returns, you don’t see much written about the costs of investments, including the costs charged to member accounts by super funds. When returns are poor however, fees become more obvious.
Estate planning: Beware the dastardly death tax
Although superannuation death benefits are tax-free when paid to dependants, a “death tax” continues to apply when super monies are paid to non-dependants.
SMSFs: Can I run two super funds? (2 questions)
Q: My wife is 58 and retired and she has her own self-managed super fund, where she has rolled over her super funds from various employers. She plans to start her SMSF pension soon.
SMSF basics: Joining the DIY super club
Australia’s DIY super fund sector has emerged as the most financially powerful sector in the superannuation industry. As at 31 December 2010, self-managed super funds (SMSFs), as DIY super funds are officially known, controlled $421 billion of the $1.32 trillion held in super assets in Australia.
How do I transfer a UK pension to an Australia super fund?
You will need to check that your fund is a Qualifying Recognised Overseas Pension Scheme (or QROPS), or alternatively change to a fund that is a QROPS.
Accessing super early: Terminally ill receive tax break
Individuals with a terminal medical condition are able to access their super lump sum payments tax-free, regardless of age. A super fund can release super benefits to a member if they have a terminal medical condition.
