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It seems the TTR is based on an after tax cash neutral position. If making the maximum salary sacrifice amount anyway, and over 55, what would be the advantage in starting a TTR?
If your goal is to build up the maximum amount of super before retirement say at 65, would you take the minimum or maximum pension amount or something in between?
I can see the benefit of receiving a 15% pension offset and after age 60, tax free income in the pension, so in that scenario I would assume taking the maximum 10% would provide the maximize gain. However between 55-60 I find the example less clear.
Would the advantage only be the 15% tax offset, and if yes, I assume taking the maximum 10% in the TTR would apply to maximize the offset?
If this is correct and you did not need the income you could recycle the after tax pension funds back into your super accumulation account as an after tax contribution. If you could clarify I would appreciate it.
A: If you wanted to build up the maximum amount in super, you would take the minimum pension withdrawal of 4% pa.
Remember, the pension is taxable between ages 55 and 60, so while you will get an offset of 15%, you are most likely to pay some net tax.
