Hi Just have a question for anyone who might have an idea!
What if you say retire from the workforce at 60 and then live off your invesments and super.. Do you still have to lodge a tax return even though you are not actually working any more.
Hello Post Enterprises
If you have investments you will need to lodge tax returns.
Your investments will have income and possibly expenses so you will need to declare and claim these.Even if all your investments are shares with fully franked dividends I believe you will still have to lodge a return.
If you only have super, I don't know.
Cheers
ElkaIf you just have a super pension that is not taxable, then it is not 'taxable income' so you wouldn't have to do a tax return. However you would need to lodge something with the ATo to show that further returns are not necessary, so they don't hassle you.
Seems logical doesn't it. What if you are retired and go travelling overseas for a few years still have to lodge a tax return? because you will still have investments earning money…. something to think about also.
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