If you’re planning to retire, you need to consider your age including if you have reached your preservation age when you can access your super how much tax you will pay on amounts you receive if good leaver conditions apply if you are part of an Employee Share Scheme if the retirement capital gains tax concession applies, if you sell your small business. Special rules apply if you receive an employment termination payment, genuine redundancy payment or payments from an approved early retirement scheme.

The government is taking action to make Australia’s superannuation system more transparent, but individuals still need to take ownership for their super and think about how the changes impact them. Super is not the set and forget savings scheme many think it is. Here are some of the latest changes to be aware of.

The Federal Government has announced that its first tranche of measures to support individuals and households as a result of COV-ID19 received Royal Ascent on the 24th of March 2020 and is now law. Below are the key points from these measures for individuals and households