Hi KC The requirement is that it must be a "genuine retirement",...

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    Hi KC

    The requirement is that it must be a "genuine retirement", that means it must stand up to ATO scrutiny & if you take a large lump sum the ATO will take a look.

    They will contact employer who must have processed your retirement correctly including paidout your LSL & holiday pay, had the staff retirement party etc & if necessary, appointed somebody to replace you.

    You must behave like you are retired, what ever that means, but you must not go to any form of work.

    If after 6 months your ex employer decides they have a project that you have the special skills to complete, they could approach you & re employ you & you would probably get away with it. However it only needs the slightest hint from a former workmate or note in your work file & the ATO will treat it as any early release scheme & hit you with higher tax & penalties.

    The mere fact that you asked the question here would be enough to cause you trouble.

    I would also advise you to start a Transition to Retirement Income Stream, of up to 10% of your super fund balance, making additional loan repayments before reaching 65.

    Regards

    Rod
 
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