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Showing 191 - 200 of 223 results for "Early Release of Super"

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 ...

Super a money laundering target: AUSTRAC

HARRISON WORLEY  |  MONDAY, 17 DEC 2018
Australia's money laundering watchdog is warning superannuation funds they are serious targets for financial criminals, and provided advice on how to avoid getting stung. AUSTRAC released a guidance paper to the superannuation sector, outlining the ...

New terms for early super access receives mixed reaction

KARREN VERGARA  |  WEDNESDAY, 21 NOV 2018
Victims of domestic violence will be able to access their superannuation thanks to new measures introduced by the Federal Government. Overall the package has been met with mixed reactions. Victims of domestic and family violence will be able to withdraw ...

Early release of super, FHSSS gaining traction: ATO

KARREN VERGARA  |  MONDAY, 22 OCT 2018
... Superannuation Trustees (AIST) Chairs' Forum last week that since the ATO was tasked to advance the early release of super, the initiative has been fully operational. In February 2018, Treasury released draft legislation to allow the ATO to facilitate ...