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?
Whatever your age, putting some time and effort into your super now can result in significant benefits down the track. SuperGuide has put together a list of useful tips and strategies to consider implementing in each decade. Read more
Self-managed superannuation funds are required under the SIS Act, “to formulate, review regularly and give effect to an investment strategy.”. Read more
The Commonwealth Seniors Health Card (CSHC) is a concession card that allows you to access cheaper health care in Australia if you meet certain eligibility requirements. Read more
Of the many benefits of running your own SMSF, one of the major drawcards is the wider choice of investment strategies that can be established compared to a traditional super fund. 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
Australia’s super system has lots of rules – many of which have significant penalties if you breach them – but not every rule applies to everybody at every age. Read more
SuperGuide has been tracking Australia’s independent financial advisers since 2010. We have always recognised that financial advice can add significant value to an individual or couple’s retirement plans, so long as it is truly independent, free from conflicts of interest, and in the best interests of the clients. Read more
MAKING SUPER CONTRIBUTIONS
Most employees know their employer is helping to build their retirement savings by making regular contributions – like the Super Guarantee (SG) – into their super account as part of their salary package. Read more
Retiring today is not like the old days when you left a job and never looked back. These days Australians are fitter, more active and interested in new experiences and learning. 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
In specie superannuation transfers (also known as off market transfers) are transfers of assets in and out of super funds, rather than actual transfers of money. In specie is a Latin phrase meaning “actual form”. Read more
AGE PENSION CHANGES
To qualify for the Age Pension in Australia you must have reached Age Pension age (which depends on your date of birth), satisfy Australian residency rules, and pass both an income test and an assets test. Read more
Using the calculator is easy. Enter your details in the calculator below (in the yellow blocks) and you will see an estimate of amount of Age Pension you may be eligible for. Read more
The current Age Pension eligibility age is 65 years and 6 months for any person born before 1954, though this age is progressively increasing from 1 July 2019 depending on your date of birth. Read more
A common question for those nearing or in retirement is “How much money can you have before it affects your pension?”. This article details the rules around 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?”. This article details the rules around the Age Pension income test (how much you earn) which is a half of the means test (along with the assets test) that determines how much Age Pension you could be eligible for. Read more