News : Retirement

Administration, Retirement, SMSF, Superannuation

Control now of greater importance

SMSF motivation control

The need to have greater control over their superannuation is becoming an increasingly important element motivating individuals to establish an SMSF.

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Retirement, Superannuation

Retirees struggling with complex system

Retirement cost of living financial literacy

Many Australian retirees face difficulties in understanding the retirement system and lack confidence in managing their finances for retirement.

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Legislation, Retirement, Superannuation

Bills highlight unfair super treatment

superannuation retirement income objective legislation

Superannuation is unfairly treated in the wider retirement income landscape, with recent draft bills highlighting governments regard it as an easy target.

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Regulation, Retirement, Superannuation

Govt releases super objective draft bill

Superannuation objective

Treasury has released a draft exposure bill outlining the objective of the superannuation system, which will include a requirement for future policies to show how they align with the objective.

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Pensions, Retirement, SMSF

Single-asset segregation barred

SMSF single asset segregation

A single asset cannot be treated in a manner that allows it to support some SMSF members in accumulation phase and others with a pension account.

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Retirement, Superannuation

Importance of super welcomed

2023 intergenerational report

A representative body has praised the government’s approach to superannuation as a driver of retirement income, but believes further improvements to the system are necessary.

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Retirement

Cost of living climbs again

ASFA cost of living retirees

The cost of living for retirees has increased for the fifth consecutive quarter, rising to new record levels as the price of daily necessities remains high.

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Pensions, Retirement

Paperwork key for new year pensions

retirement phase pension paperwork

Documentation noting the situation of an SMSF member can allow a pension to be started on 1 July without knowing all of the fund’s asset values.

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Retirement, Strategy, Superannuation

Pre-1999 benefits can easily be freed

Restricted non-preserved superannuation benefits

A fairly straightforward process can be used to allow individuals with restricted non-preserved superannuation benefits to access these assets.

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Retirement, Superannuation, Tax

Zero tax on lump sums not tax-free

Preservation age

Particular attention must be given to the tax situation of people looking to access their superannuation benefits between the ages of 59 and 60.

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