Changes to how superannuation pensions affect social security benefits
Changes to how superannuation pensions affect social security benefits From 1 January 2015, income from superannuation pensions will be taken into account in determining whether you are eligible to receive the Age Pension (full or part payment) or the Commonwealth Seniors Health Card (CSHC).  This might affect your ability to access either of these social security benefits in the future. The social security means […]
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Can self-funded retirees access a concession card?
Can self-funded retirees access a concession card? Many self-funded retirees are surprised to learn that they may qualify to receive a concession card upon ceasing work, despite not qualifying for any Government Age Pension or DVA payments. Most Centrelink benefits require applicants to meet income and/assets tests before they can qualify for a benefit, and whilst the Commonwealth Seniors Health Care card […]
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How much superannuation is enough?
How much superannuation is enough? We all like to think that when we reach retirement age, our superannuation will have enough in it from our employer contributions to start drawing an income that will keep us going until the end. For many Australians however, this sadly won’t be the case. It is never too early to start examining what you […]
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Maddern Accountants – June 2014 Newsletter
Maddern Accountants – June 2014 Newsletter With the imminent arrival of the new financial year, there are usually a few small changes in the tax system to get used to, but this year is an exception. We sketch out the post-July 1 tax and super landscape, but also list the government announcements from the Federal Budget that may also prompt a […]
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Highlight of last nights Federal Budget – How does it impact you?
Highlight of last nights Federal Budget – How does it impact you? Major changes include Super contributions cap increased Super tax for high earners increased Baby Bonus abolished Income tax cuts on hold Medicare levy increased Childcare rebate frozen Superannuation The budget essentially confirmed previous superannuation announcements and in some areas provided additional clarification. The key measures previously announced include: Concessional contributions cap increased to $35,000  As […]
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