Age Pension rates, Seniors Health Card, Independent financial advice, SMSF investment
Welcome to the September 2018 edition of the SuperGuide Premium newsletter. Highlights include:
- AGE PENSION RATES: New rates apply from 20 September 2018. Find out how much you could be eligible for with our Age Pension calculator.
- COMMONWEALTH SENIORS HEALTH CARD: The income thresholds for the CSHC have also been raised. Learn more about the benefits of the card, and how to apply
- INDEPENDENT FINANCIAL ADVICE: SuperGuide has been tracking Australia’s truly independent financial advisers since 2010. Sadly there are far fewer than there should be. Find out who is on the list from your state.
- SMSF INVESTMENT: We look at the assets that are most popular with SMSF trustees, and how in specie transfers work.
- LIFECYCLE SUPER FUNDS: These present a different approach for super fund members to set and forget. They are designed to match your risk profile to your age, but how do they perform compared to standard super funds?
SuperGuide has put together a list of useful tips and strategies to consider implementing in each decade. And don’t wait until just before retirement. If you do, you will miss out on the valuable benefits of compound interest.Read more
Self managed superannuation funds are required by law “to formulate, review regularly and give effect to an investment strategy.”Read more
The Commonwealth Seniors Health Card is a valuable concession card that can help you with the cost of health care and other government services. Check if you’re eligible and the range of benefits it can offer.Read more
Which investments are most popular with SMSFs? A short and simplistic answer is that shares and cash and term deposits compete as the most popular investments across the board for SMSFs.Read more
For most high income earners, saving for your retirement through super is a sensible strategy, but you need to watch you don’t fall foul of the dreaded Division 293 tax.Read more
When you get to your 50s, you should be paying a lot more attention to your super savings. So you need to know all the rules about making contributions and withdrawing money from your account.Read more
In this article you can find out who are Australia’s truly independent financial advisers. There are now nearly 90 advisers on the list, including at least one from every state.Read more
MAKING SUPER CONTRIBUTIONS
You can make contributions into your super account from your take home pay or money outside the super system. Since these contributions have already been taxed before you contribute them to your super account, they are not treated concessionally and are called non-concessional contributions.Read more
Continuing to contribute to your super account even after you have retired can be a rational decision, as your super savings are taxed at a lower rate than your normal income outside the super system.Read more
Super contributions can be used in many different ways when it comes to planning your finances and saving for your retirement. In the right circumstances, they can also be a very useful tool for minimising your tax bill.Read more
Most super fund members are familiar with the process of making contributions to their super account. However, they may be less familiar with the process of transferring an asset such as property or shares in or out of their fund without any money changing hands. We take a look at the pros and cons of in specie transfers relating to SMSFs.Read more
AGE PENSION CHANGES
Age Pension rates increased on 20 March 2020. This article also explains how the Age Pension works, and includes the latest Age Pension rates for residents, non-residents, and the transitional Age Pension.Read more
Our Age Pension calculator gives you an indication of potential Age Pension entitlements. The Age Pension rates are those that apply from 20 March 2020 to 19 September 2020.Read more
The current Age Pension eligibility age is 66 years (for any person born between 1 January 1954 and 30 June 1955). If you were born before 1 January 1954 you have already reached Age Pension age, and if you were born after 30 June 1955 your Age Pension age may be 66 years and 6 months, or 67 years, depending on your date of birth.Read more
This article details the rules of the Age Pension assets test (how much your savings and other assets are worth), which is one half of the means test (along with the income test) that determines how much Age Pension you could be eligible for.Read more
A common question for those nearing or in retirement is “How much can a pensioner earn before it affects the pension?”.Read more
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