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Showing 11 - 20 of 21 results for "Early Release Super"

ERS can be drawn from multiple funds: ATO

ELIZA BAVIN  |  THURSDAY, 16 APR 2020
The Australian Taxation Office has clarified the rules for the Early Release Super scheme, allowing members to withdraw super from multiple funds. The ATO said while a member can only apply for one determination per financial year, they are able to ...

ATO to verify early release requests

ELIZA BAVIN  |  TUESDAY, 31 MAR 2020
Senator Jane Hume has confirmed the Australian Taxation Office will be responsible for verifying early release super requests. Hume, the assistant minister for superannuation, financial services and financial technology, told the AFR Wealth Summit the ...

Super funds raise scam concerns

HARRISON WORLEY  |  THURSDAY, 26 MAR 2020
... what they could to de-fraud Aussies of their super savings. "Unfortunately, as we've seen before with any early release super measure, there are unscrupulous operators who take advantage of people in financial hardship either through outright fraud ...

ATO called to assist in early release super scheme

ELIZA BAVIN  |  THURSDAY, 26 MAR 2020
... the Australian Taxation Office to play a role in spreading the impact of withdrawals from the governments early release super scheme, estimating it will see $25 billion pulled from super. The government announced it will allow workers affected by the ...

Early release super approvals increasing

DARREN SNYDER  |  THURSDAY, 11 JUN 2015
... super. The limit was previously 12 months. Last financial year the department approved about $151 million in early release super at an average amount of $12,333 and a 63% approval rate. As of April 2015, more than 11,700 applications had been approved ...

Govt targets early release schemes; defers SMSF transfer ban

MELANIE TIMBRELL  |  MONDAY, 16 JUL 2012
Promoters of illegal early release superannuation schemes will face tough penalties as part of the Government's Stronger Super reforms. Minister for superannuation, Bill Shorten, announced the crack down targeting schemes promoted as a means of accessing ...

Third operator of early release super scheme punished

The Australian Securities and Investments Commission (ASIC) has obtained Federal Court orders against Raymond Heard, the third operator of early release superannuation schemes that illegally freed up over $3.5 million of Australian superannuation benefits. ...

Early release super scheme promoter to stand trial

The Southport Magistrates Court has committed Mark David to stand trial on 12 charges of fraud for his involvement in an illegal scheme that encouraged certain superannuation funds to release their members' entitlements early. The court decision follows ...

Man convicted over early release super scheme

The Queensland District Court has sentenced Timothy Barritt to four years imprisonment, to be released immediately on a $3,000 good behaviour bond for five years on two counts of providing false and misleading documents, and a 12 month gaol term to ...

ASIC commits promoter of early release super schemes to trial

Arkady Sittczenko has been committed to trial following an investigation by ASIC where Sittczenko dishonestly induced the trustees of the Health Group Superannuation fund and the South Coast group superannuation fund to make the early release of approximately ...