Superannuation News

Read our News section if you want to find out the latest developments and recent changes in super. If you haven’t already subscribed, why not consider subscribing to our free, monthly SuperGuide email newsletter which includes the latest important news on super, easy-to-understand explanations on how different super rules works, Q&As and plenty of super tips.

Set out below are all SuperGuide articles explaining Superannuation News.

Unhappy with the super or Age Pension changes? Email a Liberal MP!

A lot of Australians are extremely unhappy with what the Coalition has planned for the superannuation system and the Age Pension rules. We have been inundated with lively comments and serious questions about the Coalition’s proposed superannuation changes, and the government’s recent changes to the … [Read more...]

Liberals to impose $1.6 million cap on pension start balances, if win election

Note: The proposed policy will apply to both existing and new pension accounts from 1 July 2017, which means the policy will apply retrospectively. Based on federal treasurer Scott Morrison’s comments after announcing the 2016 Federal Budget, he claims this policy is not retrospective, that is, it … [Read more...]

ALP to tax pension earnings above $75,000 a year, if wins election

Note: Based on the ALP’s own election documents, this policy will be applied retrospectively, and will apply to all super pension earnings above $75,000 a year, from 1 July 2017. The ALP claims this measure is not retrospective, that is, it only applies to superannuation pensions started from 1 July … [Read more...]

2016 Federal Election update: What superannuation and retirement policies can you expect?

The May 2016 Federal Budget was released on 3 May 2016, rather than its usual date of 10 May 2016. Linked to the Budget night change, Prime Minister Malcolm Turnbull has now confirmed the federal election is to be held on 2 July 2016.The ALP made a preliminary response to the Coalition’s … [Read more...]

Super stinker update: Immediate cut to non-concessional contributions caps

On 3 May 2016, as part of the 2016 Federal Budget, Scott Morrison mucked up the retirement plans of countless Australians when he immediately cut the non-concessional (after-tax) contributions cap, taking effect from 7.30pm on 3 May 2016. On 12 May 2016, the ATO published further information on this … [Read more...]

SMSF pension payments: A little bit under may be OK

SuperGuide often receives questions from readers asking what happens if they don’t withdraw the minimum pension amount required to be paid each year from their pension account, especially when the underpayment is due to an honest mistake, or due to circumstances beyond their control.Before … [Read more...]

2016 Federal Budget summary: Superannuation shock for Australians

On 3 May 2016, the federal treasurer Scott Morrison released the first federal budget of his career, and he intends to make some radical changes to the super rules.On first read of the super changes, Scott Morrison may indeed raise $2.9 billion over 4 years by introducing the super changes, but … [Read more...]

Transition-to-retirement pensions: Will TRIPs stay, or will they go?

On 3 May 2016, in the 2016 Federal Budget, the Liberal government announced that, from 1 July 2017, it intends to remove the tax exemption on pension fund earnings financing a transition-to-retirement pension (TRIP).If the Liberal government is successful at the July 2016 Federal Election, then … [Read more...]

Temporary Budget Repair Levy: More income tax for high-income earners until June 2017

Note: In the 2016 Federal Budget, the Coalition confirmed it would cease the TBRL as legislated, but the ALP has announced that it would re-introduce the levy if it won the 2016 Federal Election on 2 July. Previously, in rare bipartisanship, the ALP supported the Coalition’s decision to temporarily … [Read more...]