Category Archives: Accessing your super

Government announces Super changes

On Friday 5 April 2013 the Minister for Financial Services and Superannuation, the Hon Bill Shorten MP, and the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP, announced the Government’s proposed changes to the superannuation laws.  The Government have aimed the changes at […]

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Retirement costs increase: ASFA

Retirement costs have continued to steadily rise for the December 2012 quarter, the recent Association of Superannuation Funds of Australia (ASFA) Retirement Standard has stated. The report showed that a couple looking to achieve a ‘comfortable’ retirement will need to spend $56,339 per year, whilst […]

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SMSFs win on minimum pension standards

Self-managed superannuation funds (SMSFs) are less likely to lose pension exemptions after the Australian Taxation Office (ATO) announced it would not penalise trustees for making an “honest mistake”, according to Nexia Australia. Nexia’s Sydney superannuation division director Barclay Judge said the ATO Commissioner’s announcement was […]

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Higher penalties for illegal early release promoters

The Government has specifically referenced self-managed superannuation funds (SMSFs) in detailing new legislation aimed at increasing the penalties around early release superannuation schemes. Announcing the introduction of the Superannuation Legislation Amendment (Reducing Illegal Early Release and Other Measures) Bill 2012 and the Income Tax Rates […]

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Uncertainty surrounding draft ATO ruling

A draft pensions ruling released by the Australian Taxation Office (ATO) gives little to no certainty as to when a , according to Graeme Colley, SMSF Professionals’ Association of Australia (SPAA) Director – Education and Professional Standards. For Colley, while Draft Taxation Ruling 2011/D3 has […]

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