There are significant changes to superannuation from 1 July 2017. Are you aware of what these changes mean to you? Some of the changes require preparation now and some may affect you in the future.
National Seniors Financial Information Desk explains some of the changes:
1. Concessional Contributions - Read more >
2. Non Concessional Contributions - Read more >
3. Income Stream Transfer Cap - Read more >
4. Transition to Retirement - Read more >
5. Pension Transfer Balance Cap - Read more >
6. Anti-detriment payments abolished - Read more >
7. Spouse contribution tax offset threshold increase - Read more >
8. Personal deductible contributions - Read more >
9. Low income super tax offset - Read more >
10. Earnings tax exemption extended to deferred income stream products - Read more >
11. Death benefit from income streams - Read more >
To debunk some of the misconceptions surrounding the reforms, The Australian Taxation Office (ATO) has outlined five of the most frequently asked questions to help retirees prepare for and better understand the changes ahead. Click here to find out more.
The Australian Taxation Office (ATO) have also put together some videos with finance expert Peter Switzer outlining the practical steps Australians need to take and busting some of the common myths about the super changes.
Need more information?
National Seniors members can access free independent financial information from the National Seniors Financial Information Desk (FID). Call us now on 1300 020 110. FID is an independent, confidential service funded by National Seniors Australia that aims to improve the investment information available to older Australians. Their role is to arm people with up-to-date independent information that will assist them in making those big decisions prior to and in retirement.
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National Seniors Australia is the leading independent voice of Australia’s over 50s with 200,000 members across the country. We represent the views of older Australians to all levels of government to ensure a fair go on issues of age discrimination, mature age employment, retirement income, health care, aged care and the cost of living.
Not only do we provide an independent voice for seniors Australians, our members also enjoy a range of exclusive benefits including:
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