Superannuation/Salary Sacrifice

[Billy ray]

is there a list somewhere of all the things you can use for taking out super early (subject to compasionate grounds or any grounds)?

 

[Teagueeee15]

is there a list somewhere of all the things you can use for taking out super early (subject to compasionate grounds or any grounds)?

Do you mean a list of conditions of release? You should be able to do a google search for conditions of release along with your super fund name and get a list and processes for activating them.

 

[ash_1050]

is there a list somewhere of all the things you can use for taking out super early (subject to compasionate grounds or any grounds)?

Here's a decent list.

 

[Billy ray]

A question
If at retirement age when i get access to my super i need to essentially use say 80% of it to clear my mortgage, and the remaining say 20% to renovate and do maintenance, meaning i then have zero super (but a fully paid off home) - am i likely to receive a full pension as my super is gone?

 

[Nothing]

A question
If at retirement age when i get access to my super i need to essentially use say 80% of it to clear my mortgage, and the remaining say 20% to renovate and do maintenance, meaning i then have zero super (but a fully paid off home) - am i likely to receive a full pension as my super is gone?

Depends on your other assets. As a couple (?) you get full pension if you have less than ~$5K in income and ~$400K in assets.

 

[Billy ray]

Depends on your other assets. As a couple (?) you get full pension if you have less than ~$5K in income and ~$400K in assets.

Yeh of course.
Thinking if my projected super = projected remaining loan balance at same date + allowable cash allowed, ill run some numbers and see if i could switch to minimum repayments on my loan or even interest only for a period, help my cashflow now, and forget the stress

 

[Lunchtime]

A question
If at retirement age when i get access to my super i need to essentially use say 80% of it to clear my mortgage, and the remaining say 20% to renovate and do maintenance, meaning i then have zero super (but a fully paid off home) - am i likely to receive a full pension as my super is gone?

You'd be means assessed - how much money in your bank account (s), super, other assets such as properties, shares etc....all of this will determine if you're eligible for the Aged Pension.

 

[Billy ray]

You'd be means assessed - how much money in your bank account (s), super, other assets such as properties, shares etc....all of this will determine if you're eligible for the Aged Pension.

Cheers
I know i have zero chance of paying off mortgage before i retire (other than an inheritance in meantime which i am not expecting), but maybe it doesnt matter. I am quite far ahead in my super balance compared with averages i have seen. But have zero other assets. No shares, nothing else.

 

[Lunchtime]

Cheers
I know i have zero chance of paying off mortgage before i retire (other than an inheritance in meantime which i am not expecting), but maybe it doesnt matter. I am quite far ahead in my super balance compared with averages i have seen. But have zero other assets. No shares, nothing else.

Yeah super is good. It grows quickly over a long period of time.