2020-21 budget provides $250 cash payments for aged, family and disability welfare recipients

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2020 Budget provides $250 cash payments for aged, family and disability welfare recipients Cash payments totalling $500 are about to line the pockets of around 5.1 million pensioners and other eligible recipients. Two $250 payments — to be paid in December this year and March next year. These two cash payments were announced as part
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Making super contributions after the age of 67

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Making super contributions after 67 years of age Reaching age 67 is now one of life’s big milestones, as that’s when most Aussies will become eligible for the Age Pension. But unfortunately, when it comes to the super system, it’s also the age when the super contribution rules start to tighten up. Once you hit
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Australians Over 55 lose 260 million from scams in 2019 | 60 Plus Club

Australians Over 55 lose $260 million from scams in 2019

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Scams cost Australians $634 million last year Total losses from scams in Australia are doubling year-on-year Australians lost more than half a billion dollars to scammers in 2019, according to the latest figures in the Australian Competition and Consumer Commission’s (ACCC) Targeting Scams report released last week. Total reported losses exceeded $634 million. That’s $141
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The 3 most common types of investment scams | 60 Plus Club

The 3 most common types of investment scams

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The 3 most common types of investment scams Don’t be fooled into thinking you can’t be fooled Australians lost more than half a billion dollars to scammers in 2019, according to the latest figures in the Australian Competition and Consumer Commission’s (ACCC) Targeting Scams report released last week. Total reported losses for 2019 reached $634
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$750 payments to pensioners due from 31 March 2020 – Coronavirus stimulus

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Coronavirus stimulus: $750 payments to pensioners due from 31 March 2020 Aged pensioners will get a one-off $750 payment as part of the Federal Government’s stimulus package announced last week. 6.5 million people are expected to receive the payment, including 2.4 million pensioners. This includes people on the Age Pension, Newstart, the Disability Support Pension,
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Pensions Loan Scheme for older Australians who are asset-rich but income-poor

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Pensions Loan Scheme for older Australians who are asset-rich but income-poor The Pensions Loan Scheme (PLS) is broadly available to retirees of Age Pension age who own Australian property and meet pension eligibility requirements. The PLS is a scheme that lets older Australians get a voluntary non-taxable fortnightly loan from the Australian Government, which can
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Cuts to deeming rate gives one quarter of Australia’s pensioners an extra $804

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Pension bonus: Almost a million pensioners set to receive over $800 extra per year Almost a million Australians will be up to $804 better off after the federal government’s decision to cut deeming rates. Deeming rates are the rate of return that financial investments, owned by pensioners, are ‘assumed’ by the government to earn, and
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Labor accused of ‘milking’ self-funded retirees with franking credits policy

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Labor government ‘milking’ self-funded retirees from proposed franking credits policy Labor’s franking credits policy continues to come under fire as hundreds of thousands of Australians learn more about how the proposed policy will impact their retirement nest egg. Labor government’s policy to abolish franking credit refunds for everyone but age pensioners has been described as
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Protect yourself against phone scams from fake ‘Telstra technicians’

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Protect yourself against the latest phone scam from fake ‘Telstra technicians’ With the world becoming more ‘digitised’, we now find ourselves exposed to sharp increases in online fraud, phone scams and data breach hacks. We’re also seeing more creative techniques attempted by scammers to targeting individuals that are are not tech savvy. Gone are the
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Over-65s dodge Downsizing Rules contributions using investment property

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Over-65s dodge Downsizing Rules contributions using investment property July 2018 marks the start of the downsizing rules that may help you sidestep the ever-shrinking superannuation contribution caps. But in what will come as a surprise to many, investment property may be eligible for the $300,000 downsizing superannuation contribution under certain circumstances. But beware: if you
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Investment, dating, crypto scams rip off millions

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Investment, dating, crypto scams rip off millions Australians continue to lose money to dodgy schemes. Men are more likely to fall for investment scams while women are more likely to fall for dating scams. That’s according to the latest Targeting scams report from the Australian Competition and Consumer Commission (ACCC). The report found internet and
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