Retiring overseas: Implications for your super and tax
If you dream of retiring to an exotic overseas location where the living is easy, be sure to look at the financial, health and other considerations before you make the leap.
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Barbara is a financial journalist and author with over 30 years’ experience in Australia and the UK. She is a contributor to The Sydney Morning Herald and The Age Money section, and has worked for the Australian Financial Review and The Australian.
Barbara is the author of Alan Kohler’s Eureka Report Guide to Personal Investing, Sorting Out Your Finances for Dummies and Personal Finance for Dummies and co-author of Investing for Dummies with James Kirby.
If you dream of retiring to an exotic overseas location where the living is easy, be sure to look at the financial, health and other considerations before you make the leap.
Default MySuper funds have been undergoing a makeover in recent years, with performance under the microscope and fees falling.
Income protection premiums continued to increase at a significantly higher rate than death and TPD premiums in 2023, but the cost of cover varies widely.
As the cost of living rises, life and TPD insurance premiums inside super have bucked the trend with little or no movement in 2023.
Market volatility and economic uncertainty can wreak havoc with retirement plans, so it’s important to develop strategies to ensure your savings last the distance.
Property investment is popular with SMSFs, so it’s important to know what your fund can and can’t claim as investment property tax deductions if you want to stay on the right side of the ATO.
The family home is much more than a roof over your head in retirement. It’s also a potential source of income and aged care funding.
An ATO crackdown on asset valuations, and the proposed tax increase on unrealised capital gains in $3 million-plus super accounts, is putting pressure on SMSFs with collectables to take stock.
Exchanged-traded funds have taken off in Australia, but there is still a role for LICs and managed funds. Learn about the pros and cons of each.
Even if you aren’t eligible for the Age Pension, there are a variety of valuable concession and healthcare cards available, depending on your age, income and location.
They may be referred to as DIY funds, but in practice most SMSF trustees will need at least some professional advice, from setting up their fund to the annual audit and tax returns.
If you’ve ever wondered if you can transfer shares or a business property into your SMSF, the answer is yes but strict rules apply.
It’s a common question and the short answer is that age is only one of many considerations when you are weighing up when to retire.
The expenses associated with running your own super fund can add up, so it’s important to understand which expenses you can, and can’t, claim as a tax deduction.
Super funds have slow to respond to calls for more innovative retirement income products that address members’ needs, but there are some changes to watch out for.
Most people would expect the financial advice they receive is independent and free of conflicts of interest, but that is not always the case. Here’s what to look for.
Good advice can make an enormous difference to your financial health and wellbeing, which is why it’s worth taking these steps to find the right financial adviser for your needs.
There is mounting evidence that financial advice can be good for your hip pocket as well as your general wellbeing, but you need to be vigilant.
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