Your tax guide to accessing your super under age 60
If you’re eligible and thinking about tapping into your super before you turn 60, it’s worth checking the tax implications first. In some cases, you may be better holding off for a while.
Set out below are the latest guides that relate to case studies.
The small business CGT retirement exemption explained
There are two ways you can use the sale proceeds from a business to boost your super, and the CGT retirement exemption is one of them.
Proportioning rule and super tax: What it is and why it matters
Before withdrawing your super, it’s important to understand the proportioning rule and how it will impact the amount of tax you will pay on your super savings.
Salary sacrifice and super: How does it work?
Salary sacrifice can be a convenient and simple way to boost your super and reduce your tax bill at the same time. Learn how to get it right and the alternative to consider.
Case study: Making super contributions from compensation payments
It’s not widely known, but it’s possible to put money from a personal injury compensation payment into super without many of the usual caps and limits.
How LISTO works (Low Income Superannuation Tax Offset)
The Low Income Super Tax Offset is a government rebate that can help boost your super and make saving for retirement a little easier.
A super guide to the bring-forward rule
Using the bring-forward rule is a great way to put a larger contribution into your super account in a single year. Here’s what you need to know about the rules.
How the Division 293 tax works: Super surcharge for high earners
High-income earners pay extra tax on their concessional super contributions, so it’s important to understand the rules.
What to do if you exceed your super contributions caps
Going over your annual limits for super contributions can cause problems and cost you money, so it’s important to know what to do if you have.
Your tax guide to accessing your super over age 60
Once you turn 60 and start withdrawing your super, the tax advantages of the super system come into play.
Managing retirement income with a bucket strategy
Managing competing investment priorities in retirement is a challenge but a bucket strategy could tip the balance in your favour.
Franked dividends and franking credits for SMSFs
While interest rates have lifted off their historic lows, franked dividends from shares are still a happy hunting ground for income-seeking investors.
How the Home Equity Access Scheme works (formerly Pension Loan Scheme)
The Home Equity Access Scheme can be a great way to boost your retirement income by taking a loan from the government against the equity in your home.
Reverse mortgages: What are they and how do they work?
If you’re finding it difficult to make ends meet in retirement, one solution to free up some extra cash could be to take out a reverse mortgage.
Case study: How to reduce tax on your TPD payments from super
If you suffer a total and permanent disability, making the most of any TPD insurance you have in super is crucial.
Case study: When can I afford to retire?
If you are thinking about retiring but not sure whether you have enough super, it’s time to do some preliminary calculations.
Financial advice: What are the risks and benefits?
There is mounting evidence that financial advice can be good for your hip pocket as well as your general wellbeing, but you need to be vigilant.
A simple guide to what tax is payable on super death benefits
Your beneficiaries could end up paying more tax than necessary when they receive your superannuation death benefit if you don’t learn the rules that apply.
