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Enhanced work bonus for seniors expected to increase pension benefits

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Enhanced work bonus for seniors expected to result in increase pension benefits Seniors navigating the challenges of the cost-of-living crisis are set to benefit from new legislative changes that enhance opportunities for part-time work while safeguarding age pension benefits. Commencing on January 1, the revised Work Bonus scheme introduces more favorable incentives, allowing pensioners to
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Navigating the Downsizer Super Scheme • Pitfalls to steer clear of when selling your family home

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Navigating the Downsizer Super Scheme • Pitfalls to steer clear of when selling your family home 🏠💰 The trend of downsizing from larger family homes to smaller, more cost-effective properties has gained significant traction, driven in part by a beneficial superannuation exemption supported by successive governments. This trend is particularly popular among older Australians who
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Navigating the Assets Test for the Age Pension

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Navigating the Assets Test for the Age Pension The Australian Age Pension can be a lifeline for some retirees, offering financial support during their golden years. To ensure fairness, Centrelink employs various criteria, including the Assets Test, to determine eligibility. This article aims to explain the Assets Test, shedding light on how it operates, and
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Retire smarter by avoiding ten common money mistakes

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10 common money mistakes to avoid in retirement Retire “richer” by avoiding these key mistakes In the next five years, Australia is on the brink of experiencing significant demographic and financial shifts. With an estimated five million retirees, a collective superannuation pool of up to $5 trillion, and an annual wealth transfer of over $200
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Superannuation Opportunities for the 2023-24 Financial Year

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Superannuation Opportunities for the 2023-24 Financial Year 💰📈 With the new financial year underway, it’s an opportune time for retirees to review their financial strategies for 2023-24, especially concerning superannuation. Here are some key superannuation opportunities to consider:   Concessional Contributions The pre-tax concessional contributions cap remains unchanged at $27,500. This allows you and/or your
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23 power-saving tips to lower your electricity bill

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23 power-saving tips to lower your electricity bill ⚡💸 Electricity bill shock: how to lower the pain of July 1 price rises Say goodbye to the 2022-23 financial year, and brace yourself for 2023-24’s whole new world of financial pain when it comes to power prices. Electricity regulators have effectively set benchmark price rises of
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Too good to be true? See through investment scams

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Too good to be true? See through investment scams ⚠️🛑 The Australian Cyber Security Centre Targeting Scams Report (April 2023) found that investment scams cost Australians $1.5 billion last year. They’re increasingly sophisticated and can take many forms. Learning how to identify an investment scam will help safegaurd your money and future goals. NAB Chief
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What the 2023-24 budget means for older Australians

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What the 2023 budget means for older Australians 💰🧐 The big news for older Australians this week is the Government is helping pensioners and Commonwealth Seniors Health card holders to reduce cost of living pressures. These are many direct benefits that older Australians will receive in their wallets out of this years budget. Energy relief
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PayID scam targets Australians selling items on popular online marketplaces

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PayID scam targets Australians selling items online ⚠️💰 The most common resale online marketplaces being targetted by scammers are Facebook or Gumtree Sneaky scammers are at it again, sending fake PayID emails to trick people selling items via online platforms like Facebook Marketplace or Gumtree. Scammers pose as buyers and ask the seller if they
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Five tips to kick off your super pension

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Five tips to kick off your super pension Thinking of retirement? Read this before you start an income stream to make the most of tax perks, sputter splitting and inheritance. No matter what time of the year you start your pension (July 1 is the most popular day of the calendar for self-managed super funds),
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