The Australian Financial Review --- Page: 29-30 : 21 March 2007 Original article by Zoe Fielding, Sally Patten and Alison Kahler
ABIX Summary
The right superannuation strategy can make a big difference in how your money grows in retirement. There are several useful strategies for Australians approaching retirement, in view of the new super regime that takes effect from 1 July 2007. Selling a portfolio to invest into super may incur capital gains tax, but $A100,000 of it can be claimed as a tax deduction, possibly eliminating that tax altogether. Those wanting to retire at 55 can withdraw a lump sum of $A140,000 from their super. If they can live on this until they are 60 they need never pay tax again. The terminally ill should withdraw all their super and give it to beneficiaries rather than bequeath it as a super benefit.
