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Showing 1 - 10 of 85 results for "Early Release of Superannuation"

Early release of super scammers cop prison time

KARREN VERGARA  |  FRIDAY, 31 MAY 2024
Three people will go to prison after pleading guilty to defrauding the COVID-19 early release of superannuation scheme for $103,500. The Brisbane District Court sentenced three women from Queensland, whose identities were not revealed, for submitting ...

Raiding super can worsen housing affordability: Research

KARREN VERGARA  |  MONDAY, 25 MAR 2024
... about 7% per annum compared with average growth in full-time employee earnings of 3.8%, ASFA's Early release of superannuation for home purchase paper states. Those on lower incomes and therefore lower superannuation balances tend to have a relatively ...

Taskforce suggests aged care funding be based on personal wealth

JAMIE WILLIAMSON  |  TUESDAY, 12 MAR 2024
... 90s," she said. "The Superannuation Guarantee going to 12% and there being no further widespread early release of superannuation, such as for housing deposits, will be crucial for future retirees to meet their living expenses, including for aged care ...

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 ...
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