Concessional contributions: SG and public servants
Q: I’m a member of the Military Superannuation & Benefits Scheme (MSBS). Is there some reduction in the concessional cap because MSBS is a defined benefit scheme?
Age Pension: September 2009 rates and thresholds now available
The new Age Pension rates, and thresholds, taking effect from 20 September 2009 are set out in the tables below. The Age Pension Bonus amounts also increase. Note that ‘pf’ stands for ‘per fortnight’.
Goodbye Pension Bonus: Hello Work Bonus
Hurry, hurry! Deadline approaching! If you’re working and you’re aged 65 or over (or 63.5 or over if you’re a female), or will turn 65 (or 63.5 if a female) before 20 September 2009, then you need to read this [...]
New income test for Age Pension
Although the Government has increased Age Pension rates, the income test for determining whether you can receive the Age Pension is set to become tougher for some Age Pensioners.
Turn $4,500 into $300,000 without even trying
All you need is a job and some time. With regular modest superannuation contributions you could have up to $500,000 or more in retirement savings! It doesn’t matter what age you are – 25, 35, 45 or 55 – it [...]
Baby boomers delay retirement, retirees return to work
In case you needed further proof of the impact of the global financial crisis (GFC), a recent survey titled Self Funded Retirees has found that retirees have been hit hard by the extended market downturn, while many baby boomers planning [...]
Treating your super like overtime
If the idea of superannuation doesn’t excite you, yet, imagine, instead of super, that you were being paid overtime for work outside your normal work hours.
Love your super like your own
Lesson number one: It’s your money The easiest way to save your super is to treat your super like you would money in the bank – which it is, nearly, except that you can’t spend it yet. You turn up [...]
Super rates and thresholds for the 2009/2010 year
New super rates and thresholds now available. The ATO has released updated superannuation rates and thresholds for the 2009/2010 year. The main caps, rates and thresholds are listed below.
Budget flags radical changes to Age Pension
Increase of $32.49 per week for single Age Pensioners, and $10.14 for couples (see article ‘$32 per week increase in single Age Pension’) Age Pension age to increase to 67 from 2023 (see article ‘Age Pension age set to increase [...]
Budget 2009/2010 snapshot for super savers and retirees
Superannuation Concessional contribution cap cut to $25,000 from July 2009 Government co-contribution cut to $1000 from July 2009 ‘Lost’ account balances of less than $200 to be transferred to the ATO Superannuation pensions Gross tax-free superannuation income NOT be counted [...]
