How much can I own in assets – and earn in income – and still get the pension? [Article]
Thresholds as at 01/01/2011:
Asset Test
Homeowner
Full Pension (up to)
Part Pension (less than)
- If I have super will I also get the Age Pension? [Article]
This is a frequently asked question. You have paid tax on your income and feel justified in receiving the age pension when you retire.
As at 20 September 2011 the full age pension is $689 a
- What is deeming? [Article]
Deeming is the process applied by Centrelink to assess the level of income you derive from your financial investments, regardless of the actual income being earned. Financial investments include:
- What is the minimum level of income I must draw from my retirement income stream... [Article]
The minimum level of income that you can draw from a retirement income stream is dependent upon your age, and whether any additional initiatives such as the temporary drawdown relief provisions appl
- Do I choose a lump sum or a pension, and what about taxes? [Article]
Choosing a lump sum or pension is very much an individual choice.
Many people will withdraw some m...
- What is my marginal tax rate? [Article]
The term marginal tax rate is sometimes used to describe what tax bracket you are in. The rates below apply to individuals who are residents of Australia for tax purposes:
- What are the tax limits on super contributions? [Article]
...nt. Consider your options.
Some quick tax facts*
Contributions made to super out of after-tax income are capped at $150,000 a
- Is there a limit on the amount that can be salary sacrificed to superannuation? [Article]
...are unenthusiastic about packaging salaries for employees covered by an award if it would result in income payments dropping below the award rate (it may be possible to negotiate a Workp
- Should I sacrifice salary into super? [Article]
...utions tax rate of 15 per cent.
If you are earning more income th... are earning more income than you need
- What is a Government Co-contribution? [Article]
Members who make after-tax contributions to their super account may be eligible to receive a payment from the Government into their super, which is called a Government Co-contribution. Af
- What’s the benefit of taking out hospital cover? [Article]
...at access to a hospital bed is available when you need it. Hospital cover will often come with cost ...
- What is the work bonus scheme? [Article]
... scheme, the first $250 of fortnightly employment income will be disregarde
- What eligibility tests do I need to consider to receive Centrelink payments? [Article]
...hat are applied to decide your eligibility for payments from Centrelink:
The assets test
The income test
For more information on these tes
- If I am working while receiving the Age Pension, am I eligible for the Pensioner... [Article]
The Pensioner Bonus Scheme (PBS) is now closed to new applicants, however those who were pension age prior to 20 September 2009 and who met all other eligibility conditions (eg. residency etc) may
- What is a Term Certain or Lifetime annuity? [Article]
...er a specified term. The annuity term can be for your lifetime, or for a specified number of years. If, when you die, the amount pa
- If I face financial hardship can I access my superannuation? [Article]
The government has strict rules that govern the release of superannuation money on the basis of financial hardship. The financial hardship provision is intended to permit the release of superannu
- I’m planning to sell some of my shares – how do I work out how much Capital Gain... [Article]
...s Tax is not a separate tax. The net capital gain on selling your shares gets added to your taxable income and tax is then calculated via your income tax return. The following st
- What are the different asset classes? [Article]
There are 5 commonly available asset classes available to investors, including: cash, fixed interest, property, international shares and Australian shares. These are explained below:
- What’s the difference between growth assets and income assets? [Article]
...ts are those assets which focus on delivering capital growth (such as shares and property), whereas income assets have a focus on delivering income (such as cash and fixed interest). Beca
- What is the difference between a Centrelink pension and an allowance? [Article]
...ers from an allowance for a number of reasons. Firstly, the rates of payment differ. Similarly, the income and assets tests for pensions and allowances also differ depending
