Change to Early Access Rules
The federal government’s intends to ease the rules around early access to retirement savings as a result of terminal illness.
From 1 July 2015, individuals with two medical certificates confirming they had been diagnosed with less than two years to live can seek to access their superannuation benefits.
The current requirement is less than one year left to live.
The 12 month restriction is arbitrary and may prevent individuals with a terminal illness from readily accessing their superannuation when they need it.
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April - June 2015 archive
- SMSFs may be missing out on allowable deductions
- Change to Early Access Rules
- Capital Gains Tax – which year?
- Checklist for Employers Year-end
- Year-end Tax Planning – Small Business
- Year-end Tax Planning – Trusts
- Reminders and Tax Strategies for SMSFs pre-year end
- Year-end Tax Planning – Individuals
- Overtime Payments May Eliminate Claims for Unfair Dismissal
- Tips and traps for acquiring SMSF assets from related parties
- ACCC issues scam warning
- SME Dispute Resolution
- Land Tax – Victoria
- R&D incentives at risk
- ATO adds ‘hot issue’ to its SMSF target list
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- Issues arising from an underpaid pension
- Salary and Superannuation after the death of an employee
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