7 Things the ATO Lets You Do After 60 That Most Retirees Never Use

Most Australians over 60 are handing money to the tax office for no reason. Not because they're doing anything wrong, but because nobody ever sat them down and told them these options were there. In this one, Craig Millar runs through 7 things you're legally allowed to do with your tax, your super and your Age Pension after 60 that most retirees never use. We get into the Commonwealth Seniors Health Card (yes, there's no assets test), the much bigger tax-free threshold seniors get through SAPTO, the Work Bonus income bank, tax-free super from 60, carry-forward contributions, the downsizer rule, and the re-contribution strategy that can spare your kids the 17% tax on your super when you're gone. If you're self-funded or on a part Age Pension, even one of these could be worth a few thousand dollars a year. You don't need to do all seven. Pick the one that fits where you're at and start there. General information only, not personal financial advice. Check your own situation with a registered tax agent or licensed financial adviser before you act on anything. Sources ATO – Seniors and pensioners tax offset (SAPTO): ato.gov.au ATO – Super contribution caps & downsizer: ato.gov.au Services Australia – Seniors Health Card, Work Bonus & deeming: servicesaustralia.gov.au PBS concession co-payment: health.gov.au #Superannuation #Retirement #ATO #AgePension #AustralianTax