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Super/SMSF

Photo credit: Depositphotos.com

Navigating the Downsizer Super Scheme • Pitfalls to steer clear of when selling your family home

Posted on November 18, 2023 by 60+Club
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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Posted in Money & Financials, Property, Super/SMSF
Photo credit: Depositphotos.com

Superannuation Opportunities for the 2023-24 Financial Year

Posted on September 3, 2023 by 60+Club
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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Posted in Money & Financials, Super/SMSF

Five tips to kick off your super pension

Posted on April 1, 2023 by 60+Club
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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Posted in Money & Financials, Super/SMSF

How you can get the Seniors Health Card on $90,000

Posted on February 6, 2023 by 60+Club
New rules mean you can get a Commonwealth health card on $90,000 What you need to know if you want cheaper medicines, medical expenses and other concessions that will save you money as a self-funded retiree. The increases in the income test allowances for the Commonwealth Seniors Health Card (CSHC) for self-funded retirees in the
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Posted in Money & Financials, Super/SMSF

What happens when a pensioner dies?

Posted on September 29, 2022 by 60+Club
What happens when a pensioner dies? ❤️ When anyone dies, someone else will receive their super. There are rules about who that can be (for example, for most people it will only be their spouse, children or their estate). The group that can receive that super as a pension is even smaller. In fact, it’s
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Posted in Money & Financials, Super/SMSF

Binding death benefit nominations • 6 traps to avoid

Posted on August 17, 2022 by 60+Club
Binding death benefit nominations • 6 traps to avoid Avoiding pitfalls actually starts well before the binding death benefit nomination is prepared. It starts with the fund’s trust deed. The first (and maybe most important) trap to avoid is having a trust deed that doesn’t clearly spell out some critical things about binding death benefit
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Posted in Super/SMSF

Should you wait until starting a pension before selling assets in your SMSF?

Posted on July 13, 2022 by 60+Club
Should you wait until starting a pension before selling assets in your SMSF? These days, many SMSF members know that their fund stops paying income tax on some or all of its investment earnings (rent, interest, dividends, capital gains) when it starts paying “retirement phase” pensions. A “retirement phase” pension is usually a pension that
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Posted in Money & Financials, Super/SMSF

Ways to help maximise your super before June 30

Posted on June 10, 2022 by 60+Club
Ways to help maximise your super before June 30 🌱💰 Here are some options to make the most of your superannuation over the next few weeks. With June 30 fast approaching, now is a good reminder on a few super options to prepare for leading up to end of financial year – as well as
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Posted in Super/SMSF

Downsizer scheme widens as the eligibility age decreases

Posted on June 3, 2022 by 60+Club
Downsizer scheme widens with the eligibility age decreases 🏠💸 Regardless of who was to win the federal election, people aged 60 years and over were going to be among the winners, as a Coalition promise to widen the “downsizer” scheme was matched by Labor. As an extension to the existing downsizer contribution rules, the eligibility
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Posted in Property, Super/SMSF

Tips when managing large payments from super

Posted on March 11, 2022 by 60+Club
Tips when managing large payments from super 💰 If you are wanting to take a large benefit from your SMSF, there’s a lot to consider in working out how to structure the payment. Just taking a very large pension amount is often the worst possible thing to do. It’s easiest to explain the thought process
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Posted in Money & Financials, Super/SMSF

Four ways to leverage your home equity without losing the house

Posted on December 3, 2021 by 60+Club
Four ways to increase financial security using your home equity Topping up super with a lump sum, or regular income, with the help of your home is becoming more popular. But beware of costs and the impact on pensions. Rising property prices are a reminder that retirees’ homes could be another source of income to
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Posted in Money & Financials, Super/SMSF

Three tips on handling SMSF assets when a divorce is involved

Posted on November 8, 2021 by 60+Club
Three tips on handling SMSF assets when a divorce is involved Understanding the laws around self-managed superannuation funds is complicated, especially when divorce is involved, so it’s important to get good advice from a professional. SMSF members are pretty good at planning for the two great certainties in life – death and taxes. But managing
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Posted in Money & Financials, Super/SMSF

‘Risk-free’ cash is still king for many investors: How to find a better rate

Posted on September 12, 2021 by 60+Club
‘Risk-free’ cash still king for many investors Here’s a guide to finding a better rate Cash-focussed investors are feeling the pinch with record low interest rates persisting this year. The Reserve Bank is likely to keep rates subdued for the foreseeable future, noting an “uncertain” economic outlook as the nation struggles through lockdowns. Yet however
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Posted in Money & Financials, Super/SMSF

The 13 best & worst super funds revealed

Posted on September 2, 2021 by 60+Club
The 13 best & worst super funds revealed for 2021 The Australian Prudential Regulation Authority (APRA) has revealed the best and worst superannuation fund products in Australia after releasing the superannuation statistics for the June 2021 quarter. According to APRA, superannuation assets totalled $3.3 trillion at the end of the June 2021 quarter – a
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Posted in Money & Financials, Super/SMSF

Super co-contribution eligibility before-and-after 67

Posted on August 18, 2021 by 60+Club
Super co-contribution eligibility under 67 and over 67 Firstly, what is the super co-contribution? Super co-contributions help eligible people boost their retirement savings. If you’re a low or middle-income earner and make personal (after-tax) contributions to your super fund, the government may also make a contribution (called a co-contribution) up to a maximum amount of
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Posted in Learnings, Money & Financials, Super/SMSF

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