Superannuation: Transition to Retirement

Almost anyone who is 55 and has a superannuation account will benefit from taking a transition to retirement pension (TRIP).

You will need an accountant or an adviser to help you with exact numbers, but the theory behind it is that you take a pension, which is taxed concessionally, and you salary sacrifice back into super at a lower rate than your marginal tax rate. Please contact us for further information.

By D Fong
Partner My Tax Zone

Copyright 2014. My Tax Zone.