The Senior Australians and Pensioners Tax Offset (SAPTO) won’t shower you in riches. But depending on your age, relationship status and income, it could provide a handy tax offset of up to $2,230.
Life expectancy is a complex topic, so we’ve put together a straightforward guide to help explain the key concepts – enabling you to plan your retirement with a bit more confidence.
According to psychologists, retirement comes in five phases. Find out about these different stages and the best way to navigate them.
If you work for yourself, planning for retirement and deciding what to do with your business can be a minefield. We talk to an expert about what you need to be thinking about and where to find help, so you can make your transition from running a business to retirement stress free.
The key thing to understand about the work test for super contributions over the age of 65 is that you need to be ‘gainfully employed’ on at least a part-time basis to pass the work test.
Although it sounds complicated, bring-forward contributions are just what they sound like – you bring forward your non-concessional contributions caps from future years and use them in a shorter time period.
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.
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.
You can access your super in Australia when you turn 65. It is the most straightforward condition of release. To apply for your super benefits you should contact your super fund.
If you are aged 65 or over, compulsory employer contributions like Super Guarantee contributions can be made directly into your super account.