Category «Retirement»

Effect of Losing Franking Credits

Expect the “retirees tax” to receive plenty of publicity as the federal election draws near. I have written about it extensively, but as a reader points out there is one group who will suffer badly. Mary is 70, a widow, and who has had no superannuation. Apart from her home, $50,000 in the bank, and …

The Pension Loan Scheme

The Pension Loans Scheme (PLS) for retirees will be useful in certain circumstances. But, as a reader has just pointed out, it is not available to everybody. He has chosen to retire to a manufactured home which is situated on leasehold land. Because the land is leasehold, he has no title to the property, and …

Pension Increases

This week brings good news for pensioners. On 20 March 2019, the maximum total pension rate for single pensioners will increase to $926.20 a fortnight or $24,081.20 a year. The maximum rate for pensioner couples combined will increase to $1,396.20 a fortnight or $36,301.20 a year. For cash strapped pensioners, some small casual work could …

Self Managed Super Funds

Superannuation is back in the news with a raft of recommendations from the Productivity Commission about ways we can make the superannuation system better. One area under scrutiny is Self Managed Superannuation Funds. The view of the commission is that many people running self-managed funds are insufficiently skilled, and often the returns of their funds …

Retirement Income Spin is not a New Thing

I have often heard older people talk about the way the pension system used to be. According to their recollections, part of the income tax you paid was supposed to be hived off and credited to a separate fund, out of which you would receive a pension for life. Because it was all so vague, …