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.

2015 Intergenerational Report: 30 interesting facts

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In March 2015, the federal government released the 2015 Intergenerational Report (IGR). The IGR provides projections on key economic data; namely population growth, workforce participation and productivity. Contained within the report are interesting facts about how long we can expect to live, … [Read more...]

Age Pension: March 2015 rates now apply

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The Age Pension rates, effective from 20 March 2015, are set out in the tables below. A single person eligible for the FULL Age Pension can expect an annual Age Pension income (including Pension Supplement and Clean Energy Supplement) of around $22,365. A couple eligible for the FULL Age … [Read more...]

Age Pension: Assets test thresholds from 20 March 2015

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The UPPER asset thresholds for the Age Pension assets test increased again on 20 March 2015, which means more Australians may now be eligible for a PART Age Pension. A single person can own more than $775,000 in assets (excluding his or her home), and still receive a small PART Age Pension, while … [Read more...]

2015 Intergenerational Report (Australia in 2055): Executive summary

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Note: The following article is the entire executive summary from the 2015 Intergenerational Report, looking at Australia in 40 years’ time. The next report is expected in 2020. Source: The Commonwealth of Australia. Over the past 40 years, Australia has enjoyed strong economic performance, … [Read more...]

Superannuation missing from the IGR’s ageing narrative

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The 2015 Intergenerational Report makes it clear that Australia will have an ageing population by 2055 and the undeniable fact that we are living longer. Life expectancy will, by 2055, be well into the 90s. It is also predicted that the participation rates of people aged 65 and over will increase … [Read more...]

Hockey looks to elderly for Australian prosperity

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By mid-century, Australia will have about 40,000 people aged 100 and above – well more than 300 times the 122 centenarians there were in 1975, according to the Intergenerational Report (IGR) released on Thursday. The nation is expected to have 39.7 million people in 2055. Male life expectancy … [Read more...]

Tax-free super for over-60s, except for some

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If you withdraw your super benefits after you turn 60 years of age, you can expect to pay no tax on those super benefits, unless you are a member of certain public sector super funds (see summary table at the end of this article). Due to the large number of emails I have received about this topic … [Read more...]

Reminder: New penalties for SMSF trustees

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Effective since 1 July 2014, SMSF trustees can be subject to a suite of penalties, if they fail to properly adhere to the super rules. The explanatory memorandum that accompanies the new legislation, states that the new SMSF penalties, taking effect from 1 July 2014 will enable the ATO to “give … [Read more...]

Age Pension: Deemed income falls from 20 March 2015, with lower rates

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If you own financial investments and receive the Age Pension, or you hope to claim the Age Pension, then you need to be aware of a recent change to the deeming rates applicable to financial investments, and the annual change (every July) to the deeming thresholds for the Age Pension income test. … [Read more...]

Upper limit on SG contributions (for 2014/2015 and previous years)

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Note: This article explains the maximum superannuation contribution base for the 2014/2015 year, 2013/2014 year and previous years. The maximum superannuation contribution base is used to determine the maximum Superannuation Guarantee (SG) contribution that an employer is required to make under … [Read more...]