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Showing 1 - 10 of 58 results for "Assets Test"

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
... financial service that relates to a superannuation product - being the SMSF? Does that also mean that the $10 million assets test applies rather than the general test? "This doesn't preclude consideration of whether a client might be a sophisticated ...

Allianz Retire+ adds 'industry first' feature to AGILE

JAMIE WILLIAMSON  |  THURSDAY, 30 NOV 2023
... introduction of the Age Pension+ option, which enhances eligibility for the Age Pension through reduced treatment for the assets test, while limiting the death and withdrawal benefit. "After consultation with the advice and trustee community we know ...

TelstraSuper launches retirement product

JAMIE WILLIAMSON  |  THURSDAY, 26 OCT 2023
... capital over a long period, based on life expectancy. Only 60% of the amount invested counts towards the Age Pension assets test until age 84, or for a minimum of five years, at which time it changes to 30%. "We know that many retirees are living more ...

Lack of income stream drags local retirement system: Report

JAMIE WILLIAMSON  |  WEDNESDAY, 18 OCT 2023
... with a reasonable super balance, Knox said. Other suggestions for how Australia could improve include moderating the assets test on the means-tested Age Pension to increase the net replacement rate for average income earners; introducing a government ...

Super tax concessions cost less than future Age Pension savings: Mercer

ANDREW MCKEAN  |  TUESDAY, 22 AUG 2023
... tax concessions, they end up drawing a higher Age Pension as their super balances diminish, primarily because of the assets test. By the age of 75, those in this model would see their total retirement income surpassing that of their counterparts who ...

Cut spending and raise taxes, super preservation age: Grattan

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
... spend while working. At the same time, Grattan has suggested counting more of the family home towards the aged pension assets test, saying this could save about $4 billion a year. The main argument for this is that about 40% of the government's spending ...

AMP debuts hybrid retirement solution

ANDREW MCKEAN  |  TUESDAY, 18 OCT 2022
... the Age Pension rules meaning an investment in this solution qualifies for a 40% upfront discount on the Age Pension assets test. The other available options, the MyNorth Lifetime Super account and Deferred Lifetime Income account can be opened before ...

Government proposes further expansion of downsizer scheme

JAMIE WILLIAMSON  |  TUESDAY, 17 MAY 2022
... for their retirement." The government said it will also make proceeds of the sale of a home exempt from the pension assets test for two years; currently the exemption applies for just one year. This would be implemented from 1 January 2023.

Family home dominates adviser conversations

KARREN VERGARA  |  MONDAY, 25 JAN 2021
... and want to use the proceeds to buy, build or renovate a new principal home. Such proceeds can be exempt under the assets test for 12 months and will not adversely affect their pension during that time. Clients also frequently asked about the bring-forward ...

Homeowners given preferential treatment: RIR

ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
The Retirement Income Review found the treatment of housing in the Age Pension assets test provides more support to homeowners compared to non-home owners. The review found the preferential treatment given to home ownership leads to inequities in the ...
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