The federal government has announced some important changes to the Age Pension. One will affect all age pensioners, and the other will affect those who may want or need to work.
How are lifetime pensions such as SASS assessed for the CSHC? My PAYG states a taxed element of $23,915 and deductible amount of $7,232. I am over 65 years old.
Sheena Stow-Smith from PensionHelp answers reader questions how super affects Disability Support. Q: I am about to turn 60 on the 2nd of December and have been unemployed for over 10 years. Can I access my super and still receive unemployment benefits without having to pay tax? A: Generally yes, but you may need to […]
Sheena Stow-Smith from PensionHelp answers reader questions about the impact on Age Pension entitlements of buying or selling the family home.
Sheena Stow-Smith from PensionHelp answers reader questions how minimum drawdowns impact Age Pension entitlements. Q: My question is in relation to the Age Pension entitlement amount for my parents. My parents’ minimum drawdown amount from their super pension was 7% per year, now it’s dropped to 3.5%. Does this affect the amount of Age Pension […]
Sheena Stow-Smith from PensionHelp answers reader questions about super pensions and the Commonwealth Seniors Health Card. Q: I commenced my compulsory pension drawdown in my SMSF in 2012. I couldn’t apply for a Commonwealth Seniors health Card at that date as I hadn’t reached the official retirement age at that time. My birth date is […]