Lost or unclaimed superannuation

December 2006 - New measure to improve the lost and unclaimed superannuation process was announced. » full story

Growth in self managed superfund strong

December 2006 - The growth in the number of SMSFs reinforces the well recognised benefits for retirement savings and estate planning. » full story

Investment in instalment warrants by superannuation fund

November 2006 - ...the Regulators (Commissioner of Taxation responsible for regulating self managed superannuation funds and the Australian Prudential Regulation Authority responsible for regulating other superannuation funds) have determined that investment in these products by superannuation fund is a breach of the SIS Act, the Government recognise that the practice is long standing and widespread. As such, the Government will legislate to allow the continued investment in these products. » full story

Personal contribution cap - transitional arrangement clarified

November 2006 - In the plan to simplify and streamline the superannuation system, there is a $1 million transitional cap for post-tax contributions made between 10 May 2006 and 30 June 2007. This transitional cap is available to all individuals who are eligible to contribute to superannuation. » full story

Simplified superannuation reform - key points

September 2006 - Key points from the reform to simplify the supperannuation system. » full story

Superannuation recoverable in bankruptcy

27 July 2006 - The Attorney General, Phillip Ruddock, and the Minister for Revenue and Assistant Treasurer, Peter Dutton, have announced amendments to the Bankruptcy Act 1966 to ensure that superannuation contributions that are 'out of character' and made prior to bankruptcy in order to defeat creditors can be recovered by bankruptcy trustees. » full story

Super choice extended to 500,000 additional employees

1 July 2006 - Effective 1 July 2006, more employees will have choice where their superannuation is paid, including to self managed superfund. It is estimated to that up to 500,000 additional employees will gain this benefit. » full story

Transitional arrangements - Budget 2006 superannuation proposal

13 June 2006 - The following transitional arrangements apply to the proposed $150,000 annual cap on post-tax contributions announced in the Budget 2006 superannuation proposal... » full story

Budget 2006 superannuation proposal

The Government announced in Budget 2006-2007 the proposed plan to change the superannuation system in Australia from 1 July 2007. The plan is to simplify and streamline superannuation by removing the complexity and tax payable when superannuation benefits are cashed out. » full story