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Money & Financials

When leaving super to estate is a better fit

Posted on December 8, 2020 by 60+Club
When leaving super to estate is a better fit If your beneficiaries are adult children and there is no spouse, there are five big tax savings. When you pass on, there are rules about how, and to whom, your superannuation benefit can be paid. In a typical nuclear family, a super benefit can be paid
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Posted in Money & Financials, News

Making super contributions after the age of 67

Posted on November 8, 2020 by 60+Club
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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Posted in Money & Financials

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

Posted on October 29, 2020 by 60+Club
2020 Budget provides $250 cash payments for aged, family and disability welfare recipients Criteria confusion for self-funded retirees – Seniors urged to check their eligibility 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
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Posted in Money & Financials, News
Australians Over 55 lose 260 million from scams in 2019 | 60 Plus Club

Australians Over 55 lose $260 million from scams in 2019

Posted on June 30, 2020 by 60+Club
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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Posted in Money & Financials, Technology
The 3 most common types of investment scams | 60 Plus Club

The 3 most common types of investment scams

Posted on June 23, 2020 by 60+Club
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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Posted in Money & Financials, Technology

$750 payments to pensioners due from 31 March 2020 – Coronavirus stimulus

Posted on March 22, 2020 by 60+Club
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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Posted in Money & Financials, News

Pensions Loan Scheme for older Australians who are asset-rich but income-poor

Posted on January 26, 2020 by 60+Club
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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Posted in Money & Financials, Property

Rules for Over 65s Super contributions after selling your home

Posted on December 16, 2019 by 60+Club
Rules for Over 65s Superannuation contributions after selling your home From 1 July 2018, individuals aged 65 years and over are able to make personal contributions into your super of up to a ‘cap’ of $300,000 using the proceeds from the sale of your home. The is referred to as a superannuation downsizer contribution. In
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Posted in Money & Financials, Property

Cuts to deeming rate gives one quarter of Australia’s pensioners an extra $804

Posted on July 22, 2019 by 60+Club
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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Posted in Money & Financials, News

Labor accused of ‘milking’ self-funded retirees with franking credits policy

Posted on December 16, 2018 by 60+Club
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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Posted in Money & Financials, News

Protect yourself against phone scams from fake ‘Telstra technicians’

Posted on November 14, 2018 by 60+Club
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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Posted in Money & Financials, News, Technology

How Centrelink entitlements are calculated under the age pension

Posted on October 22, 2018 by 60+Club
How Centrelink entitlements are calculated under the age pension If you are at least 65 1/2 years old, you’re eligible to apply for the age pension. The maximum age pension is: $690.70 per fortnight for a couple. $916.30 per fortnight for a single. Your entitlement is subject to means testing, comprising of two components, an
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Posted in Money & Financials

Over-65s dodge Downsizing Rules contributions using investment property

Posted on July 6, 2018 by 60+Club
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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Posted in Money & Financials, Property

Bank of Mum & Dad loans jump 25% as banks crackdown

Posted on June 10, 2018 by 60+Club
Bank of Mum and Dad loans jump 25% as banks crackdown Lending by the Bank of Mum and Dad has increased by 25 per cent to about $20 billion in the past 12 months as banks’ raise rates, increase minimum deposits and toughen repayment terms and conditions. And as the RBA governor Philip Lowe and
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Posted in Money & Financials, News, Property

Investment, dating, crypto scams rip off millions

Posted on May 26, 2018 by 60+Club
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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Posted in Money & Financials, News

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