US EditionNew sting in super tax as pension payments to count
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3 Articles
Reading time 2 minutesThousands of pensioners can be paid their pension in cash. But this service of Deutsche Post is soon no longer possible. This payment without an account and without a bank transfer does not offer the post at the end of the year. Payment order for the settlement The affected pensioners receive a check each month and then redeem it in a branch of the post bank for cash. Thus, they do not need their own bank account to receive…
New sting in super tax as pension payments to count
In a move likely to infuriate older investors, pension payments will be included when the government calculates the amounts owed under the new tax on super savings. Under current arrangements, older investors with super savings must, by law, make a drawdown of set amounts each year. These amounts must then be used to underpin private pensions. But in a surprise outcome under the so-called Division 296 measure, investors who are caught in the new…
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