Feb 13, 2019 | Accessing Superannuation, Blog, Retirement Income Streams, Reversionary Pensions, Superannuation
This article discusses how a reversionary pension is treated for transfer balance cap purposes. A reversionary pension is a pension income stream that automatically reverts to another individual upon death of the original pension member. The term original pension...
Jan 9, 2019 | Blog, Contributing to Super, Retirement Income Streams, SMSF, Superannuation, Superannuation Tax
This is an example of what superannuation is and the superannuation rules. To provide you with an example of superannuation, it is important to first understand why superannuation exists. First and foremost, superannuation is a place that you invest your savings. The...
Nov 20, 2018 | Accessing Superannuation, Blog, Contributing to Super, Superannuation, Superannuation Tax
Excess non-concessional contributions tax is payable when a superannuation member exceeds the non-concessional cap. A non-concessional contribution is a contribution made to superannuation with after-tax savings. Non-concessional contributions are generally made from...
Oct 23, 2018 | Accessing Superannuation, Blog, Contributing to Super, Death Benefits, Retirement Income Streams, Superannuation, Superannuation Tax
Tax on non-concessional contributions to super can be divided into three parts. Namely, contributions tax, earnings tax and withdrawal tax. This article covers the tax on non-concessional contributions during these three stages of superannuation. Contributions tax is...
Jul 26, 2018 | Blog, Contributing to Super, Superannuation
This article explores the advantages and disadvantages of salary sacrificing part of your wage into superannuation. Salary sacrifice is an arrangement with your employer whereby you give up some of your salary in exchange for increased superannuation contributions....
Jun 2, 2018 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation
Superannuation rules for over 55s is important because it signifies the first superannuation preservation age. Many superannuation rules become relevant for people over age 55, as this is the earliest age that you became eligible to access your super. If you’re...
Jul 18, 2017 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation, Superannuation Tax
An Allocated Pension income stream (also known as an account based pension) is an income stream commenced using your accumulated superannuation savings. An Allocated Pension is currently the most common form of income stream used by retirees. Here’s how it...
Mar 22, 2017 | Accessing Superannuation, Blog, Superannuation, Superannuation Tax
Are you wondering when you can access your superannuation tax free? There are a number of instances when you are able to access your super tax free. It will all depend on your age and the tax components that make up your superannuation balance. The way that you access...
Mar 8, 2017 | Blog, Contributing to Super, Superannuation, Superannuation Tax
Why is superannuation so important? To understand this, we need to know what superannuation is. These examples might help you understand the workings and benefits of superannuation. Put simply, superannuation in Australia is a vehicle that allows us to save for...