64 Jolimont Street, East Melbourne VIC 3002

Accounting News

Australian Taxation Office (ATO) warns about misinformation on super changes circulating online

The ATO has recently issued a warning about misleading information regarding supposed changes to superannuation preservation and withdrawal rules.

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No such changes have been proposed by the Australian Government or Treasury, and none are in legislation.

Your super access rights

It’s important to understand when you can legally access your super, which is:

  • when you reach preservation age and retire;
  • when you turn 65, regardless of whether you’re still working; and
  • if you’re between 60 and 65 and haven’t retired, you can start a transition to retirement income stream (TRIS), which allows you to receive a regular income from your superannuation.

 

 

 

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W Marshall & Associates 64 Jolimont Street, East Melbourne VIC 3002

Important: This is not advice. Clients should not act solely on the basis of the material contained in this Commentary. Items herein are general comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before taking any action. The Commentary is issued as a helpful guide to clients and for their private information. Therefore it should be regarded as confidential and not be made available to any person without our prior approval.