Join Now
Unlock unlimited access to all our content and get great discounts by purchasing a membership now
Learn more ….
Related posts:
James Coyle
James has over 35 years experience in financial services with particular expertise in two of the key components of retirement finance - Superannuation and the Age Pension. He is passionate about providing the guidance and support that can help older Australians enjoy their best possible retirement. He lives in regional Victoria surrounded by dogs and chooks.
HI There.
I’m self employed, 70, and satisfy the work test.
I’m able to claim the $27.5k before tax contrib.
Q I want to add to my super (not large at the moment) by further non contrib.
Is the total contrib I can make $137.5k or is it $110K of which $27.5k is claimed as a 15% tax deduction.
Hi Paul, thank you for reaching out for help clarifying the total contributions and tax deductions. For you and anyone else who would like to have a discussion with someone they can trust about about this topic we do offer financial advice consultations.
Our financial advice consultations are designed to help you better understand your needs and goals in retirement and some of the actions you can consider to help you achieve those goals. The consultation is online, goes for up to 45 minutes and costs $150.
CLICK HERE to book now.
Hello
I am going to be 76 in April and am still working full time
Last year when I turned 75, I was told that I could not contribute salary sacrifice after 75
Why? The government keeps telling us to work as long as we can, but they don’t give us incentives to do so – I want to salary sacrifice because I am a woman who was a wife and mother for many years without any super, and only went back into the workforce at 50 years of age – so I do not have enough super to retire – this to me seems very very unfair and seems to discriminate against the older worker
Hi,
If a couple are separated and both living under the same roof because being pensioners, they cannot afford to live separately – can they sell their current home and buy a new one in both names, continue living together and still be considered as being separated and get single pension?
Hi Sir/Madam, this is a tricky question that we cannot easily answer. Centrelink assess situations like this on a case by case basis. As per THIS LINK there are 5 key aspects of the relationship Centrelink will take into account and the scenario you have mentioned could potentially come under “financial interdependence” or “level of commitment you have to each other”.
It is worth noting that no one of the 5 aspects outweigh the other, this is why we cannot specify how Centrelink will assess you as there are many factors that they take into account. You can try calling Centrelink on 132 300 however there is a specific team who assess situations like this that you will not be able to speak with so the agent who answers your call may not be able to give any more clarity then we have.