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backtowork(Newbie)Newbie
2 July 2024

I was medically retired 12 years ago at 53 and receive a lifetime indexed pension from what Qsuper call my 'Beneficiary account.' (Currently around $76,000 p/a) Retiring unexpectedly left me with a significant mortgage that sees me living very basically to ensure the mortgage is paid off by about age 70. I have worked hard to improve my health and my Psychiatrist has given me the go ahead to do some work. I have been considering establishing a lawn mowing run, but I am unsure how my superannuation income will affect the tax rate I will start on, Can anyone explain this for me please?

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1,775 views
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Most helpful reply

MeghaATO(Community Support)Community Support
5 July 2024

Hi @backtowork


When you retired, you would've been able to access your super once you:

  • reached preservation age
  • ceased gainful employment (working more than 10 hours per week)
  • had no intention to become gainfully employed again.

But if you need to work again, you aren't breaking any rules. It's about your intention at the time you retired, not your current circumstances.

 

You can read about retirement under super laws and individual income tax rates on our website.


Come back if you're still not sure.

All replies

Most helpful reply

MeghaATO(Community Support)Community Support
5 July 2024

Hi @backtowork


When you retired, you would've been able to access your super once you:

  • reached preservation age
  • ceased gainful employment (working more than 10 hours per week)
  • had no intention to become gainfully employed again.

But if you need to work again, you aren't breaking any rules. It's about your intention at the time you retired, not your current circumstances.

 

You can read about retirement under super laws and individual income tax rates on our website.


Come back if you're still not sure.

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