If you have less than $1000 in your super account, or you have children or grandchildren with part-time jobs (or starting their first full-time job), then you will be very interested in this article. From 1 July 2013, the Federal Government is abolishing the ‘member protection’ rule which … [Read more...]
On 22 October 2012, Federal Treasurer Wayne Swan released the Government’s 2012/2013 Mid-year Economic and Fiscal Outlook (MYEFO). The report contained several measures affecting the superannuation accounts of Australians, including those who run self-managed super funds. A summary of these … [Read more...]
Before you get too excited, no, the Government hasn’t announced that it is setting up a Superannuation Consumer Centre. When I first read about the proposed Superannuation Consumer Centre in the 2012/2013 Mid-year Economic and Fiscal Outlook and the $10 million the Federal Government was intending … [Read more...]
The ATO will soon enjoy a super bonanza of nearly $700 million as a result of the misfortune of those Australians who have ‘lost’ their superannuation through lack of action or ignorance, according to the Federal Government’s 2012/2013 Mid-Year Economic and Fiscal Outlook (MYEFO). The upside … [Read more...]
Congratulations to the Federal Government for applying common sense when dealing with death benefits paid to beneficiaries from a superannuation pension account. The Government, in its 2012/2013 Mid-year Economic and Financial Outlook, has confirmed that investment earnings derived by superannuation … [Read more...]
Effective from 2013/2014 year, the ATO supervisory levy for self-managed superannuation funds is set to jump again, increasing to $259 a year. The Government announced this levy hike as part of the 2012/2013 Mid-year Economic and Fiscal Outlook (MYEFO), released on 22 October 2012. You can also … [Read more...]
