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struggler

4,359 Posts.

115

11/01/17

16:10

Post #: 21824792
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Originally posted by Martyn50 ↑

Did some quick (emphasis on quick) and found the following

"The tax rules get even better when you reach the age of 65 (current Age Pension age). If you’re Age Pension age (currently age 65) or older, you may be able to access more generous tax-free thresholds, known as the Seniors and Pensioners Tax Offset (SAPTO). If you’re single, you can earn up to $32,279 in the 2016/2017 year (or for the 2015/2016 year) in non-super income without paying a cent of tax because of the application of SAPTO and LITO. If you’re a couple, you can potentially earn $57,948 before income tax is payable."

SAPTO is Seniors & Pensioners Tax Offset (SAPTO)

LITO is low income tax offset

Here's the link

https://www.superguide.com.au/smsfs/no-tax-retirement-sapto

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And all the wealthy pensioners are whinging about losing a bit of pension....r
Sheesh.... I'm hoping GXY pushes me into the no pension zone....

Last edited by struggler: 11/01/17

GXY Price at posting: 62.3¢ Sentiment: Hold Disclosure: Held
6 Upvote

0 Great analysis

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