Relates to super and earnings
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Hi @Ragsy15,
In regards to drawing an income stream from your super fund, if you're 65yrs or over there are no cashing restrictions. So you can access your super, and work as much as you like. However, if any part of your income stream is untaxed element, then it's reporatble on your return together with your assessable income.
If you met a condition to receive your super income stream, you can continue to do so regardless of returning to work. This includes whether you're gainfully employed, or working less then 10hrs a week. The fact you met the eligibility to commence an income stream, means you can continue to receive it and return to work without repercussions. Other then declaring the untaxed element and your taxable income, this scenario is fine.
Please let us know if you need further assistance.
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So, what is the question, exactly?
Hi @Ragsy15,
In regards to drawing an income stream from your super fund, if you're 65yrs or over there are no cashing restrictions. So you can access your super, and work as much as you like. However, if any part of your income stream is untaxed element, then it's reporatble on your return together with your assessable income.
If you met a condition to receive your super income stream, you can continue to do so regardless of returning to work. This includes whether you're gainfully employed, or working less then 10hrs a week. The fact you met the eligibility to commence an income stream, means you can continue to receive it and return to work without repercussions. Other then declaring the untaxed element and your taxable income, this scenario is fine.
Please let us know if you need further assistance.
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