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Showing 1 - 10 of 72 results for "Objective of Super"

Chalmers releases retirement phase reforms

ELIZA BAVIN  |  TUESDAY, 24 FEB 2026
Treasurer Jim Chalmers has released the Retirement Reporting Framework and Best Practice Principles for superannuation retirement income solutions. "These reforms are all about strengthening the system to deliver the best results for Australians when ...

Government releases draft payday super law

ANDREW MCKEAN  |  FRIDAY, 14 MAR 2025
... superannuation system and help deliver a more dignified retirement to more Australian workers, in line with the objective of super," he said. The government has opened consultation on the draft legislation, with submissions closing next month. The Super ...

Financial services minister Stephen Jones to retire from politics

ANDREW MCKEAN  |  THURSDAY, 30 JAN 2025
Labor frontbencher, assistant treasurer and minister for financial services Stephen Jones is retiring from politics and will not contest the upcoming federal election. Jones spent 15 years as the member for Whitlam - covering Illawarra and the Southern ...

How to simplify super to get better retirement outcomes: Mercer

ANDREW MCKEAN  |  MONDAY, 13 JAN 2025
The superannuation system has lacked a clear direction for the provision of retirement outcomes, and while this is gradually changing, there remains a need to make it simpler for Australians, according to a Mercer report. The Australian retirement income ...

Superannuation tax shakeup proposed by Actuaries Institute

ANDREW MCKEAN  |  MONDAY, 9 DEC 2024
A discussion paper commissioned by the Actuaries Institute has proposed a three-pronged tax reform package aimed at making the superannuation system less complex, more equitable, and sustainable. The professional body argued that the complexity of taxes ...

Objective of super enshrined in law

JAMIE WILLIAMSON  |  FRIDAY, 29 NOV 2024
... everyday Australians what super is for, and they'll tell you it's their money for retirement," she said. "The 'Objective of Super' legislation reflects that clear and compelling purpose in ironclad law. It will be a guiding light for all future 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 ...
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