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Savings strategy for over 55s

Posted on Feb 10, 2015 by editor

If you are over the age of 55 and are still earning income through employment, then you may be able to make significant tax savings using the transition to retirement scheme.

When you use the transition to retirement strategy, you have two superannuation accounts. One account receives your employer’s contributions and any additional contributions that you make (concessional or non-concessional). The other account is your retirement income account, where you place a portion of your savings and pay yourself a pension.

The advantages to this strategy are that you can enjoy the tax benefits of making contributions to your superannuation while drawing on a tax-free pension from your retirement income account. You can use the transition to retirement strategy to grow your nest egg or to reduce the number of hours that you work without impacting your income.

ATP Accounting knows what it takes to run a successful business. They will position you at the cutting edge of business growth.
Take the step and get help to grow your business, minimise tax and protect your hard-earned assets.
Call us today on (02) 8850 3888, send us an email to or send us a message here.

Savings strategy for over 55s Savings strategy for over 55s Savings strategy for over 55s Savings strategy for over 55s Savings strategy for over 55s

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