How would you feel if you were having a Zoom meeting with your accountant and they asked “how would you like to save more than $5,000 in income tax over the next six months?”
Learn the rules for accessing your super early on compassionate grounds, including for paying your mortgage if you are at risk of losing your home.
On 22 March 2020 the Federal government announced a temporary measure allowing individuals affected by the Coronavirus to access up to $10,000 of their superannuation in 2019/2020 and a further $10,000 in 2020/2021.
Saving a deposit to buy your first home is a tough task, and purchasing an affordable first home can be an even greater challenge. The First Home Super Saver (FHSS) Scheme developed by the Australian Government is one solution, but it’s not for everyone. To help you get your head around whether the FHSS Scheme is for you, check out our 10-point guide.
If you retire before the age of 60, your super benefit payments are likely to be subject to tax — but not always. With the right structure, and usually with expert advice, many Australians retiring early can end up paying no tax.
The decision about when to retire is rarely made overnight. It’s a major life event and deserves careful thought and planning. Finances play a big part, but so do your health, your partner’s circumstances and whether you still enjoy your work or are itching to leave.
This article addresses how income protection insurance works inside super, its effectiveness, key trends, claims and how you can establish the right cover for you.
The Departing Australia superannuation payment (DASP) is available to departed temporary residents who worked and earned super in Australia. It is not available to permanent Australian residents, nor for Australian and New Zealand citizens.
You can access your super benefits early due to permanent incapacity under Australian law, provided you meet the eligibility conditions.
The latest Productivity Commission report, Superannuation for Post-Retirement, highlights two aspects of post-retirement income policy that have recently attracted considerable attention: the age at which people should be able to access their superannuation, and whether lump sum withdrawals should be restricted.