Understanding the Increase in Preservation Age for Superannuation: What It Means for You (Sep 24 Tax Update)

Relevant For:

Australian individuals born after 30 June 1964, approaching retirement or planning for future superannuation access.

Key Points:

• Preservation age for superannuation now fixed at 60 for those born after 30 June 1964.
• At 60, you can access retirement benefits if you end an employment arrangement.
• Eligible for TRIS without retiring upon reaching preservation age.
• Benefits from a TRIS are tax-free from age 60.

Full Article:

Navigating the complexities of superannuation can be challenging, particularly when