Retirement in Australia is no longer what it used to be. The traditional idea of stopping work at 65 and settling into a quiet, leisurely lifestyle is changing. More Australians are approaching retirement differently, driven by financial considerations, longer life expectancy, and shifting personal priorities. 1. Longer Life Expectancy Means Longer Retirements Australians are living…
Ever noticed your super balance going up and down, even when you haven’t made any changes? It’s not just about fees, contributions, or insurance premiums – it’s also about how your super fund calculates investment earnings. Super funds use one of two methods to allocate investment earnings: unit pricing or crediting rates. While industry super…
Thinking about crossing the pond? If you are moving permanently or indefinitely to Australia, you may be eligible to transfer your retirement savings from a KiwiSaver scheme to a participating Australian super fund. However, there are important rules and conditions to consider before making the transfer. Checking Fees and Requirements Before transferring your KiwiSaver savings,…
Division 293 tax is an additional tax on concessional superannuation contributions for high-income earners in Australia. It is applied at a rate of 15% on certain super contributions when an individual’s combined income and concessional contributions exceed $250,000 in a financial year. This tax effectively reduces the tax concession available to higher-income individuals, ensuring a…
