I own no investment properties or trusts. Will the budget affect me?
The recent budget discussions have raised concerns about wealth redistribution from older Australians to younger generations. However, for many retirees, including those without investment properties or trusts, the changes may not significantly impact their financial situation. Key aspects such as superannuation rules and capital gains tax exemptions on primary residences remain unchanged.
- ▪Superannuation rules are unchanged, allowing retirees to maintain up to $2 million in a tax-free pension.
- ▪There is no change to the capital gains tax exemption on primary residences.
- ▪Improvements to aged care services may become relevant for retirees in the future.
Opening excerpt (first ~120 words) tap to expand
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.