No Short Term Changes To The Preservation Age for Aussie Expats

No Short Term Changes To The Preservation Age for Aussie Expats
Expat Super

 

30/04/2014 – Last week Treasurer Joe Hockey flagged changes to the superannuation tax concessions and an increase in the preservation age from 65 to 70 years of age however Tony Abbott has come out this week to confirm that nothing will occur in this term of parliament.

What this means for Australian expats approaching retirement age is that the current preservation age of 65 still stands with respect to being able to access your superannuation and convert your superannuation account into a allocated pension. The fact that it has been flagged means that the government has both the superannuation and aged pension schemes firmly in their sights and that it is only a matter of time before changes are made.

With the Federal Budget being announced on the 13th of May and changes being announced that may affect superannuation in the future it is always a good time to review your superannuation to not only ensure that your superannuation is correctly structured and invested but positioned to provide you with the best possible outcomes in the future.

If you’d like to speak to a professional who is a specialist in advising Aussie expats please click here to contact us.

 

Brett Evans is the Managing Director and a Financial Planner with Atlas Wealth Management which is the first financial services firm in Australia to specialise in providing financial advice to Australian expatriates. With over 20 years of experience in the finance and investments industry, Brett has worked for blue chip companies which include the Australian Stock Exchange (ASX), HSBC, Suncorp and Citi Smith Barney.

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