I am currently on leave without pay until the end of the year and have decided that I will not return to work. However my boss wants to continue with me being 'on leave' as she has someone else doing my role and if I formally retire the company would replace that person/cut that role. Can I inform my SMSF that I am retired as of now?
If you're of an age where you can shift your superannuation from accumulation (15% tax on earnings) to pension (tax-free earnings) mode, @LeaDev , it would be worth having a frank discussion with your employer to ensure they understand this arrangement has a very-real cost to you. Would they perhaps be willing to make it financially worthwhile for you to remain on leave?
No. You will not be retired until you have formally ceased employment, which for you will be at the end of the year.
" Retirement means you have ceased gainful employment. "
If you're of an age where you can shift your superannuation from accumulation (15% tax on earnings) to pension (tax-free earnings) mode, @LeaDev , it would be worth having a frank discussion with your employer to ensure they understand this arrangement has a very-real cost to you. Would they perhaps be willing to make it financially worthwhile for you to remain on leave?
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