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Search ResultsShowing 1 - 10 of 100+ results for "ERS"
Aussies won't top-up ERS losses
ELIZABETH MCARTHUR  |  MONDAY, 30 NOV 2020
New research reveals that less than half of the Australians that withdrew their super this year plan to direct tax savings towards replacing it. Research from Colonial First State, which looked at a sample of 2000 Australians, found that 16% had withdrawn ...
ERS costs big super funds
ELIZA BAVIN  |  MONDAY, 30 NOV 2020
As applications for the early release of super (ERS) scheme slow down, the nation's biggest funds have taken the brunt of the payments. Of the $36 billion paid out so far, the 10 funds with the highest number of applications received from the ATO have ...
Super sneaks back to $3tn in assets
ELIZA BAVIN  |  TUESDAY, 24 NOV 2020
... year to September 2020 were $112.3 billion, including approximately $34 billion paid under the early release of super scheme (ERS) which came into effect on 20 April 2020. SMSFs also lost out in the September quarter with assets falling 4% compared to ...
Australians drain $35bn from super
ELIZA BAVIN  |  MONDAY, 16 NOV 2020
Around $35 billion has been removed from Australians retirement savings as the governments' early release of super (ERS) scheme edges towards its close. Having opened in April this year in response to the immediate effects of the COVID-19 lockdown ...
ATO prepares for end of ERS
ELIZA BAVIN  |  THURSDAY, 5 NOV 2020
... Taxation Office (ATO) has announced the end of year shutdown and program closure arrangements for the early release of super (ERS) scheme. Since April 3.3 million Australians have taken over $34 billion out of their retirement savings through the ERS ...
IOOF appoints executive, continues growth push
ELIZA BAVIN  |  THURSDAY, 29 OCT 2020
... Renato Mota said the broad ranging impacts of COVID-19 continued to affect flows, especially with the early release of super (ERS) scheme. "However, our scale, economic diversity and business strength contributed to the maintenance of a steady FUMA position," ...
Ask and you shall receive
ELIZA BAVIN  |  MONDAY, 26 OCT 2020
The latest APRA data for the government's Early Release of Super (ERS) reveals that 98% of applications received by the Australian Taxation Office (ATO) have been paid out by funds. The prudential regulator said that as at October 18, 98% of the applications ...
APRA reduces ERS reporting for funds
ELIZA BAVIN  |  WEDNESDAY, 21 OCT 2020
... amongst other things. These have always been requirements of the reporting standards set by APRA for the oversight of the ERS scheme, but will now have more of a focus. Funds will no longer have to continue providing information on complaints handled ...
Release the Retirement Income Review: Labor
ELIZABETH MCARTHUR  |  TUESDAY, 13 OCT 2020
... an online event for ASFA, criticised the government's latest raft of superannuation reforms and the early release of super (ERS) program. "The Superannuation Minister [Jane Hume]- who flips and flops between ambivalent and conflicted in her own portfolio ...
Aussies continue to drain super
ELIZA BAVIN  |  MONDAY, 12 OCT 2020
... Over the week to September 27, a further 36,000 applications were received by funds for the Early Release of Superannuation (ERS) scheme. Of the 36,000 applications 22,000 were first-timers and 14,000 were repeat applications. Initial applications total ...
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