Super Guide Newsletter August 2015

August 2015 Newsletter

Age Pension changes, how much super is enough, salary sacrifice, contribution splitting, when can I retire?


Highlights of the August 2015 newsletter include:

  • LATEST RETIREMENT DEAL! LOSE AGE PENSION, RECEIVE SENIORS HEALTH CARD. The harsher Age Pension assets test taking effect from January 2017 will hit hundreds of thousands of Australians who will lose Age Pension entitlements overnight.
  • NEW INCOME TESTS MEANS LESS AGE PENSION. On 1 January 2015, the Age Pension deeming rules were extended to capture superannuation pensions of new retirees. In a related article, retirees with defined benefit pensions will be hit with a harsher Age Pension income test from 1 January 2016.
  • HOW MUCH SUPER IS ENOUGH? We have updated 2 of our most popular retirement planning articles, and 4 other related articles sharing how much money you need for a comfortable retirement, and the steps to take to make it happen.
  • THE SUPER CHALLENGE: AT WHAT AGE SHOULD I RETIRE? If you are deciding WHEN is the right time to retire, you need to ask yourself 4 important questions.
  • SAME-SEX COUPLES: YOUR SUPER RIGHTS EXPLAINED. Until relatively recently, same sex couples were treated very differently to heterosexual couples (de facto and married), when dealing with certain superannuation entitlements.
  • CAN I SPLIT MY SUPER BENEFITS WITH MY SPOUSE? For the answer, see link below.
  • SALARY SACRIFICING AND SUPER: 10 FACTS YOU SHOULD KNOW. Now is a good time to check your super arrangements.

Note: You can find these articles, and more, by clicking on the links below, or  click here if you want to access the AUGUST 2015 newsletter link directly via the SuperGuide website.



We are thrilled to have been selected to join Stone and Chalk, a new Fintech hub in Sydney which launched this week, with Robert Barnes, our General Manager, in attendance. Fintech is shorthand for technology startups working in and around the financial services industry.SuperGuide joins 40 other businesses selected from 350 organisations to participate in this exciting independent not-for-profit collaborative hub, designed to "support the growth of the highest quality fintech start-ups in Australia". You can read more about Stone and Chalk here.

Many thanks for your continuing support and interest in SuperGuide.

Trish Power



Latest retirement deal! Lose Age Pension, receive Seniors Health Card


The stricter Age Pension assets test has now become law, although the changes won't take effect until January 2017. The federal government predicts that more than 300,000 Australians will be worse off under the harsher assets test starting from 1 January 2017, with nearly 100,000 Australians losing their Age Pension benefits entirely.  Read more

New income test rules mean less Age Pension


Recent changes to the deeming rules, extending deeming rules to superannuation pensions, can potentially have financially devastating effects on the Age Pension entitlements of new retirees.  Read more

Age Pension income test change hits defined benefit pensions


With so many recent changes affecting the Age Pension, another significant change has gone largely unnoticed except for the thousands of retired public servants and former large company employees hit by the change.  Read more



The super challenge: At what age should I retire?


Selecting a retirement age, even if you plan to continue some form of work during retirement, can be a difficult decision. In some cases, individuals don't get a choice about when to retire due to health issues, or due to redundancy in later years and then difficulty finding another job. Before drawing a line in the sand regarding WHEN you plan to retire, consider 4 important questions.  Read more

A comfortable retirement: How much super do you need?


So, the big question is: how much money is enough for your retirement? Or more specifically, have you worked out the amount of superannuation and other savings that you will need to finance your retirement?  Read more

Setting a retirement target: Living on more than $59,000 a year


If you fall into the 'wanting more than $59,000 a year' category then you're probably seeking information on how much super is needed to finance much higher income levels.  Read more

Financial freedom: Retirement planning in six steps


How much money do you need in retirement to live a lifestyle free of everyday money worries? For many Australians, this means a lifestyle where you can pay your bills without financial stress, you can enjoy an occasional holiday (or many!), you can maintain your car and house, and you can buy gifts for your children, grandchildren and friends.  Read more

Life expectancy: Will you outlive your retirement savings?


Every five years, the latest data is released on average life expectancies, that is, how many years you're expected to live, on average. The table contained within this article contains the most up-to-date information on expected lifetimes.  Read more

Moving targets: Come on, how much super do I really need?


I received an email from a reader researching his retirement options. He asked why do different media sites and financial organisations provide different amounts for the ideal retirement lump sum target for a given level of annual income. Which source is correct?  Read more



Investment performance: Super funds deliver 2.3% for July 2015


The median superannuation growth fund gained a robust 2.3% for the month of July 2015, although the returns delivered in July have retreated in the first half of August 2015.  Read more

Comparing super funds: Who's who in the super zoo?


Unless you work in the superannuation industry, how the world of super works can be bamboozling (sometimes it can be confusing even when you know the industry well). This article, on the different types of super funds, helps explains the main players in the Australian super world.  Read more

Salary sacrificing and super: 10 facts you should know


Salary sacrificing superannuation, by making before-tax super contributions, is a popular strategy for employees on middle-to-high incomes. The deal is that you increase your superannuation balance (and pay 15% contributions tax, and for those earning an adjusted taxable income of more than $300,000, 30% tax on super contributions) while reducing the amount of income tax payable (up to 49% including Medicare levy) on your salary or wages.  Read more

Double contributions tax for high-income earners


Anyone with an adjusted taxable income of more than $300,000 (including rental property losses and other items) now pays 30% tax on concessional contributions paid into a super fund, doubling the super contributions tax bill for high-income earners.  Read more

Same-sex couples: your super rights explained


Until relatively recently, same sex couples were treated very differently to heterosexual couples (de facto and married), when dealing with certain superannuation entitlements.  Read more

Super for beginners, part 7: Can I split my super benefits with my spouse?


Q: I am 41 years old and my partner is 56 years old. We have a very big mortgage as we are both the casualties of wealth destroying divorces and single parenthood! Thus we intend to pay off our mortgage before putting more into our superannuation. Can I transfer part of my superannuation to his fund now as I have much longer working life ahead of me, so that he can at least be getting the benefit of compounding? I know this can be done in divorce settlements so I assumed may be superannuation assets can be shifted around within a marriage as well?  Read more

KiwiSaver: Only one super fund accepts super transfers from NZ to Australia


More than two years after the super rules changed, opening the door to super transfers between New Zealand and Australia, still just one Australian super fund is accepting transfers FROM KiwiSaver accounts to Australian super accounts. Many more Aussie super funds however permit transfers of Australian superannuation savings TO New Zealand KiwiSaver schemes.  Read more

Accessing super early: 14 legal ways to withdraw your super benefits


This article provides an excellent overview and summary of the 14 ways you access your super. You can also use this article to access more than 50 articles (you can find the links contained within this article), answering different aspects of accessing super benefits early. This summary article, and the 50-plus related articles, are a product of the most popular questions asked by readers on this topic.  Read more