Government Tax and Superannuation Update

Save Tax

On Wednesday 6 November 2013, the Treasurer, the Hon Joe Hockey MP, and the Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, announced the Government’s decision to abandon some of the previous Government’s tax and superannuation proposals. The announcement also indicated which of the former Government’s unlegislated proposals the new Coalition Government would proceed with. (more…)

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How much do I need to take from my pension?

pension payments

If you have converted your superannuation account to a pension account then you must make withdrawals from the pension account.

The minimum pension payment rates are calculated as a percentage of your account balance as at 1 July of each financial year, or when the pension is started if mid-year. The percentage is dependent on your age as at 1 July of each financial year, or when the pension was started. (more…)

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