On the 1st of January 2015, the age pension assessment of account-based pensions changed. Assessment of account-based pensions was brought in line with other “financial Investments”. What does this mean? The balance of the account-based pension, regardless of the income being drawn down, was assessed in the same way as money invested in bank accounts, […]
When saving for a long-term goal, such as retirement, is it better to save small amounts for a long time, perhaps saving when we cannot afford to, or waiting until later in life and putting larger amounts aside when it is more affordable? We look at both sides of the debate and put some simple […]
This is a very sensitive topic and one that we don’t like to think about or plan for. It is estimated that around 50% of Australian’s die without having made a will. A common mistake is that most of us believe any money we have saved in superannuation is part of our estate and will […]
Did you know that thousands of Australians have indirectly ‘given’ billions of dollars of their super to the Australian Taxation Office (ATO)? When we start a new job, our employer will ask us to provide a heap of information like our address, tax file number, who to contact in the event of an emergency, bank […]
To qualify for an age pension, you first need to reach the necessary qualifying age, which depends on the year you were born. You also need to be an Australian resident. According to the Social Security Act, this requires you reside in Australia and be either an Australian citizen or the holder of a permanent […]