It's Official

Everything that has nothing to do with fishing.
Nude up
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Re: It's Official

Post by Nude up » Sun Dec 09, 2018 12:08 pm

denis barden wrote:Kool
If you are between 60 and 65 you can get your super tax free
If over 65 its 15%
I thought all super withdrawals once you are over 60 are tax free till any age. A payout from redundancy is tax free under 65 classed as a golden handshake over 65 redundancy is classed as a windfall and is taxed. My mate took redundancy after 48 years in the same job he was over 65 had to pay tax on his massive payout and I haven’t heard the whinging stop for the last 4 years.
I just keep telling him you were going to retire anyway it’s a bonus

smile0784
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Re: It's Official

Post by smile0784 » Sun Dec 09, 2018 6:46 pm

Didn't you hurt your K ees a while back and discuss options then?

Texas
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Re: It's Official

Post by Texas » Tue Dec 11, 2018 2:21 pm

smile0784 wrote:Didn't you hurt your K ees a while back and discuss options then?
Yes mate, that's correct
It's a bit complicated, but, my super payout is based on final average salary
I could have returned in an office job, but, would lose some $150,000 of super payout
There was no redundancy, just as if I resigned
I can't go back to my former job as my knees and back could not take it
Retirement really was my only option
Cheers Gra

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