Accessing super early due to severe financial hardship
Q: I would like to know how I could go about accessing my super early on the grounds of extreme hardship. I have 2 children and I’m a single parent.
Accessing super: How long does it take for TPD insurance to be paid out?
Q: I am going to claim TPD from my super fund due to mental illnesses. My psychologist thinks I will be approved. I am 29 and have a lot of reports and evidence. I can hand in my forms in a few weeks time with everything there. Do you know how long will it take to be approved?
Accessing super early: Can I withdraw my super to pay off my debts?
Q: I have a large amount of debts totalling $25,000, and I have no assets. My income is average and my super balance is above $50,000. I would like to withdraw half of my super to pay off my debts. [...]
Super contributions: Can I make a retrospective payment to my fund to reduce tax?
Q: After completing my personal tax return my accountant advised I was up for $45,000 in income tax – (I had ceased work and sold an investment property, then unexpectedly recommenced work).
Age Pension: When I access my super, will that count for the assets test?
Q: When I start drawing from my super after I turned 55, will my super then count as an asset? As my partner is over 65 most of our money is in my super and we are eligible for the pension.
SMSF administration: Are there problems dealing with online trust deed providers?
Q: Thanks for the super site – it has been very useful for me as a trustee of my family SMSF. I have also bought your book, DIY Super for Dummies, which has been very informative and explained many issue [...]
SMSF pension: After making super contributions, when can I convert to another pension?
Can I start the new account based pension as soon as I meet another “condition of release”, ie stop my part time employment?
Contributions caps: Which financial year do I use for my salary sacrifice contributions?
I salary sacrifice into my super. My super contribution for the month of June 2011 was not available to my super fund until July 2011. Will this contribution fall under the 2011 financial year limit or the 2012 financial year limit?
Tax-free retirement: Why bother with super, such as an SMSF?
Q: Rather than putting our money in super, should we just go for a lump sum and invest in term deposit and direct shares in our own name? For example, if a couple who are senior age can receive income [...]
Is super pension income considered ‘assessable income’ or ‘total income’?
Q: Can you clarify whether income from a pension (from a taxed and/or untaxed super fund) is considered ‘assessable income’ and/or part of ‘total income’? Is it considered self employment income or employer income?
