Tag Archives: Super

No super, No Life!

I was travelling in Japan on a family holiday recently and browsing a stationary store came across a number of pictures with the caption “No Super, No Life”. This is probably more relevant in Japan where the annual basic aged pension is approximately ¥950000...
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Personal super deductions: remember the notice

The end of financial year is fast approaching, and individuals with excess savings or those who have received a bonus since the beginning of the year may want to use the extra cash to grow their super. One of the easiest ways to grow super and get a tax deduction at the same time is to make a personal superannuation contribution. However, there are certain factors that will need to be considered including eligibility requirements and contribution caps, as well as giving the required noticed in time.

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Super pension drawdown reduction extended

As a part of the Budget, the government has extended the temporary 50% reduction in minimum annual payment amounts for super pensions and annuities to 30 June 2023. The measure was originally introduced for the 2019-20 year in response to the COVID-19 pandemic which negatively impacted the super account balances of many retirees. According to the government, given ongoing volatility, the extension will ensure that retirees will not be forced to sell assets in order to satisfy the minimum drawdown requirements.

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