Transition to Retirement

How Much To Retire | Taxwise Australia | (08) 9248 8124

How Much Do You Need To Retire

By Warren Kruger / November 6, 2018 / 0 Comments

The question “How much do you need to retire?” requires an individual answer. Each one of us lucky enough to reach the brink of those golden years will feel a lot better doing so with some assurance that we’ve squirreled enough away to be comfortable in retirement. The answer to the above question is made all […]

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Retired and Asset Rich But Cash Poor? The Pension Loans Scheme May Help.

By Warren Kruger / July 3, 2018 / 0 Comments

To help pensioners who are rich in assets but poor in income, the government launched a version of a commercially available financial product, the reverse mortgage. The government’s answer for pensioners who find themselves in the above situation is its pension loans scheme (PLS), whereby a pensioner can apply for a non­taxable loan using some […]

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What the Proposed Housing-Based Super Contribution Initiatives Offer

By Warren Kruger / October 3, 2017 / 0 Comments

After waiting for what seems like an eternity, the government has finally put to Parliament its draft legislation around two of its schemes. The proposed schemes, the First Home Super Saver and Contributing the proceeds of downsizing to superannuation, are both pieces of legislation that are an attempt to bring into action proposals from the […]

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Assets Test for Pensioners | Taxwise Australia | (08) 9248 8124

Recent Changes to the Assets Test For Pensioners

By Warren Kruger / February 7, 2017 / 0 Comments

From January 1, 2017, the assets test free area and taper rate for pensions increased. The assets test works by reducing a person’s age pension payment for every dollar of assets owned over a certain value. The test takes into account most assets, including any property (except your primary home) or possessions owned, or partly owned, in […]

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By Warren Kruger / April 13, 2016 / 0 Comments

Under new transition to retirement rules at the ATO, if you have reached your preservation age, you may now be able to reduce your working hours without reducing your income. You can do this by topping up your part-time income with a regular ‘income stream’ from your superannuation. Previously, you could only access your superannuation […]

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Planning To Retire

By Warren Kruger / September 30, 2015 / 0 Comments

When you’re planning to retire you need to understand how any lump sum payments you receive from your employer might be taxed and, if you’re part of an Employee Share Scheme, consider whether the ‘good leaver’ conditions apply to you. Alternatively, if you’re selling your business, you’ll want to know whether or not the retirement […]

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