Super fees and returns, SMSFs and TBAR, Age Pension changes, Bring-forward rules, Reverse mortgages
Highlights of the June 2018 edition of the SuperGuide newsletter include:
- SUPER FEES AND RETURNS CALCULATOR: The Productivity Commission have again highlighted the importance of fees in the returns equation, particularly when they are compounded for the long timeframe that superannuation is applied over. To help illustrate this we’ve designed a calculator that shows you the impact small percentages can make over time.
- SMSFs and TBAR: Another month, another acronym. The Transfer Balance Account Report is an important new administration requirement for SMSFs. Meg Heffron explains more about the TBAR and when it operates.
- AGE PENSION CHANGES: New assets and income thresholds apply from 1 July, which means more Australians may now be eligible for the Age Pension.
- BRING-FORWARD RULES: We’re in the middle of some complex transitional rules, so make sure you are fully up to speed if you have triggered the bring-forward rule in the last 2 financial years.
- REVERSE MORTGAGES: These may sound tempting when you are asset-rich but cash-poor, but reverse mortgages are surprisingly unpopular in Australia. Janine Mace explains how they work, what are the pros and cons, and the rules and impacts you need to consider.
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AGE PENSION CHANGES
- Age Pension assets test limits (March 2022 to September 2022)
- Age Pension income test limits (March 2022 to September 2022)
- Deeming rates (and calculator) for the Age Pension income test
- Age Pension calculator: How much could you be eligible for?