Note: This article is updated regularly when new financial advisers join the independence club (latest update May 2018). A financial adviser does not have to be a member of the IFAAA to join the SuperGuide list, provided they can declare that they satisfy the requirements of being an independent adviser (we now have 3 ... Read more
Over-65s work test: How does it operate?
2018 Federal Budget alert! From 1 July 2019, the federal government will introduce an exemption from the over-65s work test for Australians aged 65 to 74 with superannuation balances of less than $300,000, for the first year they don’t meet work test requirement. The full $25,000 concessional cap (plus catch-up ... Read more
Retiring before the age of 60: the tax deal
If you retire before the age of 60, your super benefit payments are likely to be subject to tax — but not always. With the right structure, and usually with expert advice, many Australians retiring early can end up paying no tax. If you’re willing to wait until you turn 60 before you retire, you can automatically ... Read more
Divorce: How is Australian superannuation divided in a NZ divorce?
Q: Are you able to shed any light on how Australian super funds are treated/divided by New Zealand courts in the case of divorce, where the two parties are also New Zealand citizens? We’re not familiar with NZ family law but what I can say is that whatever a NZ court determines in relation to splitting Australian ... Read more
Accessing super early: Permanent departure from Australia (6 Q&As)
This article contains 6 examples of popular questions received by SuperGuide from Australian citizens and Australian permanent residents departing Australia, and overseas workers, who are seeking to withdraw super benefits before retirement. If you’re a temporary resident of Australia then check out another SuperGuide ... Read more
What is the retirement age in Australia?
In Australia, there is no official retirement age but there are special rules that apply, which determine the age when you can withdraw your superannuation benefits (preservation age), and the age when you can claim the Age Pension (Age Pension age). You can discover your preservation age (for accessing your super ... Read more
Accessing super early: 14 legal ways to withdraw your super benefits
Many Australians are facing hard times, especially with structural change transforming our economy. The harsh reality is that mortgage repayments and everyday living expenses continue even when you suffer redundancy, illness or other forms of misfortune. We receive hundreds of emails from our 3 million website users ... Read more
Can I access my super early due to financial hardship?
Q: I am in financial hardship. Can I withdraw my super to pay my expenses? A: We’re sorry to read about your circumstances. Yes, in certain circumstances individuals suffering ‘severe financial hardship’ may be able to access a portion of their super benefits. ... Read more
Accessing super early: Unemployed and in financial hardship
Q: I have been unemployed for 10 months now and I am still having problems finding work. I’ve got bills to pay off and I’m finding it hard to do that with the tiny amount I get from Centrelink each fortnight. Is there any way I can use my superannuation towards my bills, due to my financial difficulties? A: We’re ... Read more
Accessing super early: 16 popular Q and As
I have received many questions from readers, some in serious financial situations or suffering illness who are seeking more information on how to access Australian super benefits early. Other readers seeking early access to super benefits have left Australia permanently, or have even left Australia temporarily. The ... Read more
Accessing super early: Living overseas and reached preservation age
Q: I’m an expat Australian, and I have been living in Europe for quite a few years. I am 57 and I want to access my superannuation to buy a property. Is that possible? I have no idea if I will retire back in Australia or stay here, but my view is that if I do retire back in Australia, I will sell the property to fund ... Read more
Accessing super early: Temporary resident of Australia
Q: My husband and I are getting ready to return home (USA) after living and working in Perth for the past 2 years. We came to WA on a temporary work visa. My husband has a super fund and we were wondering if we can leave the money in his super until he turns 60. My husband was born in September of 1960, which makes age ... Read more
