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Showing 1 - 10 of 66 results for "Objective of Super"

Superannuation objective legislation hits Senate floor

ANDREW MCKEAN  |  WEDNESDAY, 11 SEP 2024
... everyday Australians - and urged its smooth passage as recommended by a cross-party Senate committee. "The 'Objective of Super' legislation reflects that clear and compelling purpose in ironclad law," she said. "We strongly support the legislation. It ...

ASFA pushes for tax redistribution to benefit low-income workers

ANDREW MCKEAN  |  FRIDAY, 9 AUG 2024
... financial security in retirement through its "world leading" superannuation system. "Our focus is on legislating an objective of super, delivering pay day super, and super on paid parental leave," Jones said. He also noted that the superannuation guarantee ...

Senate Committee endorses Superannuation Objective Bill

ANDREW MCKEAN  |  WEDNESDAY, 3 APR 2024
The Senate Economics Legislation Committee has recommended the passage of the Superannuation (Objective) Bill 2023, marking its likely enactment. The Committee urged Parliament to prioritise passing the bill in a report released last week because of ...

Treasury releases draft legislation for new $3m super tax

ELIZA BAVIN  |  TUESDAY, 19 MAR 2024
Treasury has released the draft regulations for the superannuation concessions changes set to come into effect FY 2025/26. Stakeholders have been encouraged to submit responses to the draft regulations before 26 April 2024. The bill imposes a tax rate ...

Taskforce suggests aged care funding be based on personal wealth

JAMIE WILLIAMSON  |  TUESDAY, 12 MAR 2024
... ringfencing part of individuals' superannuation for aged care, which is entirely appropriate - given the true objective of super." She added the phase out of RADs will also lead retirees to have greater confidence to draw down on their super in retirement. ...

ASFA appoints Mary Delahunty as chief executive

CASSANDRA BALDINI  |  THURSDAY, 23 NOV 2023
... providers, as ASFA uniquely does, plays a crucial role in progressing important conversations on matters such as the objective of super, the role of capital and enhancing member services," she said. Meanwhile, Dransfield thanked Turner for stepping in. ...

Objective of super bill lands in parliament

ANDREW MCKEAN  |  FRIDAY, 17 NOV 2023
... Australians. The Superannuation (Objective) Bill 2023, which was introduced to Parliament yesterday, defines the objective of super as "to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and ...

Lack of income stream drags local retirement system: Report

JAMIE WILLIAMSON  |  WEDNESDAY, 18 OCT 2023
Australia's retirement system has received a B+ grade in a study of nearly 50 nations, with the lack of a compulsory retirement income stream being what holds it back. The latest Mercer CFA Institute Global Pension Index sees Australia placed fifth ...

Super tax break changes open for consultation

KARREN VERGARA  |  TUESDAY, 3 OCT 2023
Treasury's clampdown on tax concessions for superannuation balances greater than $3 million has been laid out in its draft legislation and is now opened for consultation. From 2025-26, the proposed law states that for members with total superannuation ...

Government consults on superannuation objective laws

ANDREW MCKEAN  |  FRIDAY, 1 SEP 2023
The federal government is consulting on proposed superannuation legislation that will enshrine an objective to "preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way." The Superannuation ...
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