Aviva pensioners cash in
Financial services provider AvivaAustralia has announced that pensioners invested in its Navigator platform received an average tax refund of $800 in the last financial year.
Aviva general manager, wealth management products, Andrew Barker said the results highlighted the importance of investing retirement funds tax effectively.
“Last financial year was a year of good returns, which means this year the tax refunds have been flowing through to pensioners.”
Barker said it is important for pensioners to be aware that if they invest their superannuation tax effectively, some platforms will give them direct credit for the franking on the shares they hold.
“We know some pensioners can struggle and it feels good to know that those who invest efficiently can receive a large pension boost. Zero per cent tax is not as good as it gets — pensioners can actually get money back.
“During volatile times, it is the net of tax returns that count. We can’t control the share market, but we can keep a lid on the tax we pay.”
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