Older Australians Archives - Aspire Financial Consulting Toowoomba

Expansion of Work Bonus to Self-Employed

September 18, 2019

The Work Bonus lets eligible pensioners earn more income from working without reducing their pension. Until recently, the Work Bonus only applied to employment income, but from 1 July 2019 it was extended to include income from self-employment. However, the bonus can only be used to offset income derived from the physical exertion of the […]

New Work Test Rules for Older Australians

July 16, 2019

Previously, those 65 and above needed to have been gainfully employed for at least 40 hours over a period of 30 consecutive days (the work test) during the financial year before they could make voluntary superannuation contributions. From 1 July 2019, some people are now able to access an exemption to the work test to […]