60 and retiring

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For those looking to retire after age 60, you may want to consider using your
superannuation savings to set up a regular income stream, as opposed to simply
withdrawing your superannuation as a lump sum
This is because:
• No tax will be payable on earnings within your super fund
• You can receive tax-free income stream payments, and
• You don’t have to include the income payments in your annual tax return, which
could reduce the tax payable on your other, non-super investments.
These tax benefits may enable you to receive a more tax-effective income to meet
your lifestyle needs. This is particularly true if your super benefit is quite large
and/or you receive income from non-super investments.


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David Gourley

Director / Financial Planner
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Newbrocom Pty Ltd (ABN 39 152 026 330) trading as Momentum Financial Planning is an authorised representative of Charter Financial Planning Limited, Australian Financial Services Licensee Licence number 234665.



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