Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 181 - 190 of 216 results for "Early Release of Super"

Aussies flood to ERS as applications open

ELIZA BAVIN  |  MONDAY, 20 APR 2020
The Australian Taxation Office has confirmed over 881,000 Australians have registered their interest in the government's early release scheme. An ATO spokesperson told Financial Standard that while official applications for the COVID-19 early release ...

ERS can be drawn from multiple funds: ATO

ELIZA BAVIN  |  THURSDAY, 16 APR 2020
... The regulator acknowledged that while the process for determining and paying amounts under the COVID-19 early release of super measure is different to the usual process RSE licensees are expected to act in accordance with the ATO determination. "The ...

ASIC provides relief around early super access advice

JAMIE WILLIAMSON  |  TUESDAY, 14 APR 2020
... Nick Coates: "This is a sensible and measured expansion of restrictions on intra-fund advice about the early release of super scheme, which will allow fund advisers' to take into account members' personal circumstances and their households." "Accessing ...

Super funds probed on liquidity, rental assistance measures

KANIKA SOOD  |  MONDAY, 6 APR 2020
Standing Committee on Economics chair Tim Wilson has written to superannuation funds seeking numbers on liquidity, unlisted assets and stimulus measures by April 29. In a letter sent to superannuation funds last Wednesday, Wilson has asked funds to ...

Industry bodies work to ease regulatory burdens

ELIZABETH MCARTHUR  |  FRIDAY, 3 APR 2020
... will be provided. However, the regulator is concerned about the scams that have been popping up around the early release of super. "If they do provide regulatory relief there will be some tight rules around it. It'll be restricted to this particular ...

Super funds asked to model early release impact

KANIKA SOOD  |  TUESDAY, 31 MAR 2020
APRA has asked superannuation funds to submit their in-house modelling on the magnitude of impact they are expecting from the Federal Government's special allowance for early release from superannuation. The prudential regulator asked superannuation ...

Super funds raise scam concerns

HARRISON WORLEY  |  THURSDAY, 26 MAR 2020
Fraudsters have wasted no time in using the government's new early release of super initiative as an opportunity to swipe the retirement savings of unsuspecting Australians. Intrust Super has warned its members of the risk they will be targeted ...

Early release better than SG freeze

KANIKA SOOD  |  MONDAY, 23 MAR 2020
... five years to 2019, 361,000 account holders took out an average of $8000, totaling $2.9 billion in total early release of super due to hardship, according to Rainmaker analysis of APRA data. "The $10,000 per year the government is now allowing due COVID-19 ...

Australia to lean on super

HARRISON WORLEY  |  MONDAY, 23 MAR 2020
... has been called on to act as a key pillar in Australia's response to the COVID-19 pandemic, with the early release of super a central tenet of the government's new policy initiatives. The government's latest suite of stimulus measures designed ...

SMSF scheme sees creator jailed

ELIZA BAVIN  |  WEDNESDAY, 23 OCT 2019
A 51-year-old was found to have unlawfully created, operated and benefitted from a fraudulent self-managed superannuation fund. Kent Nguyen was sentence to three years in prison after pleading guilty to orchestrating an illegal early release of a superannuation ...