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Bethy(Newbie)Newbie
22 Oct 2024

I am 61, retired for a year. The super company states that I can access my super as a lump sum provided I am permanently retired meaning never being gainfully employed more that 10 hours per week

Question are as follows

  1. Can I access my super as a lump sum without incurring any further tax.
  2. I don't believe I will work again at this stage, however if I decide to work say full time in the future can I without any tax issues if I have taken a lump sum

Just want to ensure I have all the facts before making a decision.

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1 replies
140 views
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Bruce4Tax(Taxicorn)Taxicorn
22 Oct 2024

If you ceased a position of employment after age 60, that is a better condition of release than retirement because you would not be restricted to working less than 10 hours pw.


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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
22 Oct 2024

If you ceased a position of employment after age 60, that is a better condition of release than retirement because you would not be restricted to working less than 10 hours pw.


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