Women’s super – closing the gap
Wednesday 23 August 2023 at 11:00 am AEST
We know women’s super balances tend to be lower than men’s. There are many reasons – broken working patterns, the gender pay gap, and that women are more likely to work less than full-time hours.
Whether you’re starting out, planning retirement, or have retired, this webinar will help you to take control of your super and put strategies in place to reduce the risk you’re left behind. We’ll cover everything from maximising your contributions to choosing appropriate investments and dealing with separation or divorce.
Q: I have a small business and a get portion of Age Pension as I am a widow as well. I would like to know if it is my tax return only that I must hand in each year?
A: As you will know, business income can be quite irregular with busy periods and lulls throughout the year. This is why Centrelink assess business income over a full 12 month period of trading.
The documents you need to provide will depend on the structure of your business, but should include your personal tax return, a profit & loss statement, a balance sheet or a statement of the assets and liabilities of the business (if applicable) and if you have a company, trust or partnership you will need to also provide any business tax returns. These should be provided within 14 days of them being completed.
Centrelink will assume that your most recent tax returns and financial statements are an accurate reflection of your current income. If this is not the case, you can ask them to do a current assessment by providing an interim profit & loss statement which would regularly be reviewed.
None of us like confronting our own mortality, but with an ageing population and more people living with dementia the value of a good estate plan can’t be underestimated.
Learn more about getting your affairs in order.
Important: All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.
