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Showing 1 - 10 of 82 results for "Early Release of Superannuation"

Aussies pay the price for early release of super: ASFA

JAMIE WILLIAMSON  |  THURSDAY, 11 AUG 2022
The government's COVID-19 early release of superannuation (ERS) scheme saw the closure or near emptying of almost one million member accounts, largely held by women, single parents and the unemployed. A new analysis by the Association of Superannuation ...

Industry pans early release superannuation policy

ANDREW MCKEAN  |  MONDAY, 16 MAY 2022
... recommended the early release of super for housing deposits. This same report showed that the early release of superannuation for housing deposits was fundamentally inconsistent with the objective and central principles of superannuation. Moreover, it ...

Members lean on super for financial hardships

KARREN VERGARA  |  TUESDAY, 1 FEB 2022
... because of financial hardship spiked in June 2020, thanks to government incentives such as the Early Release of Superannuation Scheme, reaching $826 million. The following financial year, some $658 million was released based on financial hardship. Meeting ...

More work needed to end financial abuse

ELIZABETH MCARTHUR  |  MONDAY, 17 JAN 2022
... "The impact of coercive control in a violent relationship was starkly demonstrated in 2020 in the early release of superannuation scheme, with many women being coerced into accessing their super or having it fraudulently accessed by their domestic partner." ...

Adviser jailed for illegal super access

KARREN VERGARA  |  WEDNESDAY, 24 NOV 2021
... sentence imposed demonstrates the seriousness of this misconduct." "Facilitating the unlawful early release of superannuation can lead to the erosion of people's super balances, which has the potential to lead to long-term hardship. ASIC will continue ...

Unpaid super tops $5bn per year: ISA

JAMIE WILLIAMSON  |  THURSDAY, 28 OCT 2021
... hospitality. Younger workers were also the cohort most likely to withdraw from their accounts under the Early Release of Superannuation scheme last year, with 82% of those who did being under 35 years of age. About 1.7 million men and 1.3 million women ...

Advisers query super changes

ANNABELLE DICKSON  |  TUESDAY, 19 OCT 2021
... re-contributing early release of super payments. Clients who had accessed their superannuation through the early release of superannuation (ERS) program may be in a position to pay it back and can do so tax-free. "Some advisers are pleasantly surprised ...

ERS re-contributions won't be taxed

ELIZABETH MCARTHUR  |  FRIDAY, 3 SEP 2021
Those who took advantage of the government's early release of superannuation (ERS) program, due to loss of income during the pandemic, can put the money back in their account without incurring a tax penalty. The Australian Taxation Office confirmed ...

Superannuation complaints down 31%: AFCA

KANIKA SOOD  |  MONDAY, 5 JUL 2021
... superannuation to AFCA fell 31% in the year ending 30 June 2021, after a spike in FY20 stemming from the early release of superannuation allowed during the pandemic. AFCA did not provide a breakdown of complaint types for superannuation to 30 June 2021 ...

Aussies lose $328m to investment scams

KARREN VERGARA  |  MONDAY, 7 JUN 2021
... relate to superannuation scams resulting in over $6.4 million in losses, mostly prompted by the early release of superannuation scheme. Worryingly, it appears that people find it increasingly difficult to identify legitimate investment opportunities ...
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