Home – New Forums Money matters Retired, but access money from business?

  • This topic is empty.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
  • #966159
    • Total posts: 1

    Hi, I own a small business, a Pty Ltd, and my wife and I are the only shareholders.

    I’m over 63 and want to access my super. I want to “retire” and collect my super. Let’s assume I do this.

    I still want to run the firm, but how can I collect money from the firm?

    I guess it can’t be a “salary” as I’m not supposed to be employed, but can it be as “dividends”? What are the limits?

    I guess I can re-employ myself and pay a salary to myself again, but would I be better to stick with collecting “dividends”?

    • Total posts: 2,104

    I had the same questions, then I was went to a couple of seminars put on by Centrelink.

    My advice is to make an appointment with Centrelink and discuss your situation with an FSO. These Financial Services Officers are fantastic and they are about Maximising your pension not minimising them.

    I talked to them when I was your age and then a month before I turned 65. For what its worth these people are the experts and their FREE advice is without question the BEST you will ever get. Just be honest with them and they will tell you things that you can do that even you tax agent , accountant or solicitor wont know.

Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.