Income Test opportunities | Accurium

Income Test opportunities

Brought to you by Challenger Tech

With the rebalanced Assets Test in force, retirees can benefit from a review of their income drawdown strategies and identification of how the new Assets or Income Test ‘zones’ affect them.

Assets-tested clients may need to increase drawdowns from existing income streams to supplement their reduced Age Pension entitlements, or restructure existing income streams to improve entitlements over time.

In some cases, clients may have moved from the Assets Test zone to the Income Test zone where strategies to reduce assessable income can add significant value.

This article focuses on those in the Income Test zone and use a case study to illustrate strategies that may assist them.


Disclaimer

This information is provided by Accurium Pty Limited ABN 13 009 492 219 (Accurium). It is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. The information is general in nature and may omit detail that could be significant to your particular circumstances. The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication. While all care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation can change from time to time and Accurium is not liable for any loss arising from reliance on this information, including reliance on information that is no longer current. We recommend that you seek appropriate professional advice before making any financial decisions.