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When Can I Access My Super Tax Free?


"When can I access my super tax free” is one of the most common questions we receive as financial advisors. Once you are over 60 and have retired, (retirement is a condition of release) you can access your super, in most cases, tax free. Whether it be by lump sum withdrawal or an income stream that pays you regular or scheduled payments.

In some cases, an appropriate strategy is to commence a Transition to Retirement income stream when you are 60 and still working, This lets you access up to ten percent of your super tax free each year. One thing we know for sure, to ensure you are ready to access your super it is important to start retirement planning as early as possible.

Determining when you can get your super is a complicated matter and withdrawals are not always tax free. Individual super situations can vary greatly. We highly recommend that you seek qualified strategic advice when it comes to getting money out of your super. Most Financial Advisers let you chat over an initial consultation with no charge. To arrange a consultation with a Financial Adviser here at Forbes, simply submit an online enquiry and we will be in touch.

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