In preparation for 'simpler super' the commissioner has released a series of factsheets to help people understand what is fact or fiction when it comes to superannuation.
Age rules:
Myth
Everybody over 60 can take their money out of their super fund tax free and keep working.
Fact
This is only true for money taken out of taxed funds. It also depends on the type of fund and how you take the money out.
Tip
If you are over 60 and considering taking money out of your super but continuing to work seek financial advice or talk to your super fund.
Tuesday, June 12, 2007
Superannuation Age Rules: Myths, Facts & Tips #1
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