Could you please explain how super can be used to pay off a
mortgage once retired?
Q.
I have a query about an answer that was given recently. It was
suggested to a husband and wife, aged 60 and 52, a reasonable
strategy would be to pay off a mortgage on a second house using her
husband's super now that he has turned 60. It was also suggested
"as long as you don't intend renting it this can be done tax-free
once he turns 60". Could you please explain this further as I am
not aware of any tax free status of rental income for the 60 and
over group, when the rental property is not in the name of the
super fund?
A.
In the context of the question, the withdrawal from super would
be tax free once he had reached the age of 60. It did not have a
thing to do with the income from the property.
Each week financial advisor Noel Whittaker answers your
questions.
