Govt sells itself to self-funded retirees

The Federal Government has directed at least some of the promotional material around its Household Assistance Package towards self-funded retirees.

Money Management and other industry media have received material from agencies assisting the Government under the heading 'Self-funded retirees continue to benefit under Household Assistance Package'.

The material points to all taxpayers earning less than $80,000 getting a tax cut and the tripling of the tax-free threshold, before stating that those self-funded retirees who receive the Seniors Supplement have already received an initial payment of $250 for singles and $190 for each member of a couple.

Related News: More confidence in financial sector needed for senior consumers

It said Seniors Supplement recipients would also be eligible for ongoing support - the Clean Energy Supplement - paid in arrears from June next year with their quarterly payments.

The material said some self-funded retirees did not pay tax because of tax concessions available for some types of superannuation income for people aged 60 and over, adding, "if you have superannuation income and do not receive the Seniors Supplement or another Government payment, you may be eligible to receive the $300 Low Income Supplement".

The material finishes on the note, "the Household Assistance Package is designed to benefit self-funded retirees and other Australians who need it most".

Related Content

A case for equal weight ETFs: VanEck

[[{"fid":"28931","view_mode":"default","fields":{"format":"default"},"type":"media","attributes":{"alt":"Getting to know equal weighted exchange trade...more

Emerging market companies to grow rapidly

[[{"fid":"28784","view_mode":"default","fields":{"format":"default"},"type":"media","attributes":{"alt":"Investors should not ignore emerging markets:...more

IOOF launches re-weighing functionality

IOOF has today announced the introduction of its re-weighing functionality for the IOOF Persuit's online portal, which will allow advisers to re-weigh...more



Add new comment