Yahoo! Australia & NZ Finance - Special Edition
Money Makeovers
with Peter Switzer
Your questions answered by an industry expert
Your questions answered by an industry expert
Post-1994 invalidity component
Can you please let me know how the proposals announced in the 2006 Federal Budget impact the post-1994 invalidity component of my superannuation?
Benefits paid on the permanent disablement of the member will be eligible for a 'post-June 1994 invalidity component' on part of the benefit taken as a lump sum, or a 15% pension offset if taken as a pension. Once you reach age 60, those benefits will be received tax-free.From 1 July 2007, if you are self-employed, the government will extend eligibility for a 'post-June 1994 invalidity component' (forming part of the new exempt component).
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Disclaimer: This is generic financial advice only. Any investment decision should be made after careful review of your individual financial situation, risk tolerance, investment objectives and time horizon. These Questions have been answered by Peter Switzer and Mark Leahy. Mark is the Managing Director of Switzer Financial Services. If your question is answered, it will be published in the Peter Switzers' Money Makeovers on Yahoo! Finance, and you will be notified by email.
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