In this article we detail how the Age Pension is assessed, how the income and assets tests work, and illustrate with case studies for a Single and a Couple.
Set out below are all SuperGuide articles that relate to Case studies.
What is the Pension Loans Scheme, and how does it work?
Older Aussies looking to boost their retirement income can take advantage of the government’s Pension Loans Scheme to generate a non taxable fortnightly income stream that helps pay their bills.
How the Division 293 tax works: Super surcharge for high earners
High income earners need to watch they don’t incur an extra 15% tax on their super contributions under the Division 293 rules. Here’s a simple guide to everything you need to know.
Your tax guide to accessing your super under age 60
Although you can retire and access your super if you’re under age 60, the tax man is going to want his cut, so ensure you understand the rules before acting.
Your tax guide to accessing your super over age 60
Knowing how much tax you’ll pay when you withdraw your super savings is important and the rules change once you reach age 60.
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TBAR: Transfer balance account reporting for SMSFs
Transfer balance account reports notify the ATO of any changes to SMSF trustees’ transfer balance accounts.
What super contributions are best for me?
Working out the best mix of super contributions to grow your nest egg can be confusing. Here are some simple case studies to help show you the impact for Aussies of different ages, incomes and work situations.
What to do if you exceed your super contributions caps
Exceeding your annual super contributions cap can leave you with a big tax bill. So here’s a simple explainer of the process you’re likely to face.
A super guide to understanding the bring-forward rule
The bring-forward rule represents an important opportunity to put more money into your super account in a particular year if you receive an inheritance or are getting close to retirement. Here’s a simple guide to how it works.
Work test: Making super contributions over 67
Making super contributions once you reach age 67 is more difficult as you need to meet the requirements of a work test. Here’s a simple guide to understanding the rules and how they affect you.
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Non-concessional super contributions guide (2020/21)
While your employer is making regular Super Guarantee contributions into your super account, you can boost your account balance by using after-tax money to make non-concessional contributions.
Concessional super contributions guide (2020/21)
Concessional contributions are the most common type of super contribution, but many people don’t understand what they are or what is their annual limit, so here’s our simple guide.
How a government co-contribution can help boost your super savings
Free money from the government is pretty rare. But one of the simplest ways is by investing a few extra dollars into your super account to score a co-contribution payment.
How LISTO works (Low Income Superannuation Tax Offset)
Finding extra dollars to put into your super account can be difficult, so receiving a $500 payment from the government can be a welcome boost for your retirement savings.
Taking your super early due to ill health? 7 tips to help
Retiring due to ill health is much more common than you might think, and it can severely impact your super. We look at some tips that can help if the unexpected happens.