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 [...]
Light relief for SMSF lifetime pensions
Note: Draft legislation is now available on the relief outlined in this article. You can find more recent information on this issue, including changes to the relief offered to SMSFs, by reading DIY super: Age Pension relief for SMSF lifetime [...]
Six-monthly pay rise for Age Pensioners
The Federal Government has announced an increase in the Age Pension commencing from September 2009. You can find out more information on this increase in the article ‘Budget flags radical changes to age pension‘. If you’re an Age Pensioner, you [...]
Relief in hard times for retirees
Note: The pension relief explained below now also applies for the 2009/10 year. You can find more information on the 2009/10 pension relief in the article Pension drawdown relief extended for 2009/10 year. The Federal Government has announced temporary relief [...]
More Age Pension for more Australians
The halving of the Age Pension assets test taper rate, from $3 to $1.50 for every $1000 in assets above the threshold after September 20, 2007, now mean that many more Australians have become eligible for a part-age pension. Around [...]
