I’m under 60. Does my super payout also affect my other income, and tax bill?
Q: I turn 55 soon and I am eligible for a super payout of $150,554 next month of which only the $554 is taxable at 16%. However I still intend to keep working and wondered how this will affect the tax payable on my super.
Can we run our business overseas if we are ‘retired’?
Does it affect our “retired” status for superannuation if we are running our own business overseas which has no connection at all to Australia?
Super for beginners, part 10: Can I use my super to reduce my mortgage?
Q: I have a rental property unit I owe approximately $190,000 to the bank and I would like to know if I can invest my $60,000 super into the unit to reduce my payments to the bank? Superannuation is subject [...]
Super for beginners: Top 10 must-know facts
Since we launched the SuperGuide website in 2009, we have received thousands of questions on different aspects of superannuation. We try to represent as many questions as possible, while also ensuring we cater for readers who are just beginning their super education.
Accessing super early: 12 legal reasons to cash your super
Many Australians are facing hard times but mortgage repayments and everyday living expenses continue even when you lose your job, or suffer illness or other misfortune.
Unrestricted access to super, sometimes
Q: I was an Australian citizen, age 37, and had been part of a super fund from about 1993/4. I left Australia in 2001. I see from your 12 legal reasons to cash your super that I may be able to access my restricted benefit.
No early super access for business debts or tax bills
Q: I am a small business owner in the incubus stage. I have just submitted my taxes for the first time in 3 years as the struggle to keep a small business alive has left me working to live. I [...]
Accessing super early: Not for business debts
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.
Super for beginners, part 22: How do you speak ‘superannuation’ (… in 20 words)?
A recent survey has found that many Australians find the stodgy language of superannuation confusing. What a surprise, not!
Accessing super to buy property: part one
Q: A few years back my wife and I owned six homes, five here in Australia and one in NZ, where we were caught out by a marketeer over an investment. We lost it all. Not good when you consider we are in our 50s.
Retirement unlocks your super
In the hype and hoopla surrounding the latest super changes – primarily tax-free super benefits for over-60s, many of the promoters in the marketplace forget to mention the magic words “preservation rules”. The rules surrounding accessing your super have not [...]
