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don1(Initiate)Initiate
20 June 2024

Can anyone answer when the ATO considers you retired , eg: last working day, last pay, retirement date in writing , last payment of all outstanding leave etc

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PayrollDeanne(Taxicorn)Taxicorn
20 June 2024

Hiya @don1 👋


For what purpose?


If it's about benefits for which you may be eligible, it's the preservation age.


If it's about access to the pension, it's the age-pension age.


Industrially, it used to be the term we applied when the mandated retirement age had been reached, but that's abolished and it's just a voluntary resignation.


Deanne




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Most helpful reply

PayrollDeanne(Taxicorn)Taxicorn
20 June 2024

Hiya @don1 👋


For what purpose?


If it's about benefits for which you may be eligible, it's the preservation age.


If it's about access to the pension, it's the age-pension age.


Industrially, it used to be the term we applied when the mandated retirement age had been reached, but that's abolished and it's just a voluntary resignation.


Deanne




don1(Initiate)Initiate
20 June 2024

thanks for the reply, no its about capital gains tax on shares inside a SMSF that can be sold after retirement tax free but will incur capital gains tax if I sell while still working

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When the ATO Considers you Retired | ATO Community