2023-24 Federal Budget – key implications for your super

Treasurer Jim Chalmers delivered Labour’s second Federal budget on 9 May 2023. This year’s Federal Budget focused on addressing the immediate challenges that many are facing and providing cost-of-living relief for those that need it most. The Budget confirmed two previously announced changes to superannuation. – the reduction of [...]

2023-05-12T16:39:22+10:0012 May 2023|

2022-23 Federal Budget – key implications for your super

On 25 October 2022, Treasurer Jim Chalmers presented the 2022-23 Federal Budget. While the Federal Budget is usually in May each year, during the election the then Opposition indicated it would undertake an interim Budget to enable effective implementation of its policies. This update has been provided by Superannuation Compliance [...]

2022-10-27T08:39:13+11:0026 October 2022|

Check all super related SMS messages

We have been informed that there are some spam messages being sent to super fund members at the moment. These messages appear to be from the ATO or a super fund and provide a link for you to click for immediate action. Please do not click on any links in [...]

2022-02-07T13:59:14+11:001 September 2021|

Legislation updates

Further to the fact sheets we provide after the 2020 and 2021 Federal Budgets, there have been a number of other very recent legislative changes that will impact on superannuation. We have outlined these changes on our Legislation updates page and summarise them below for you: Your Future, Your Super [...]

2022-02-07T15:48:22+11:0028 June 2021|

Work test extended

Making contributions is an obvious way to build up your retirement savings. You can make a personal or spouse contribution into your AvSuper account at any time (and tell us about it via our online contributions form). However, there are some Government restrictions – for instance, older members need to [...]

2022-02-07T18:19:34+11:0018 June 2020|

Your 2019 Federal Budget update!

On Tuesday 2 April, the Federal Government released their 2019-20 Budget. There were few superannuation changes, but we’ve summarised the main proposals affecting AvSuper’s members below, and provided some thoughts on how we believe the measures may apply in practice, should they become law. With a federal election expected to [...]

2022-02-07T18:18:30+11:005 April 2019|

Recent legislation news

In late February 2019, the Federal Government legislated several small changes affecting super. These changes are to take effect from 1 July 2019, although we do not expect the changes to significantly affect the majority of AvSuper members. Inactive members – insurance will cease Effective from 1 July 2019, [...]

2022-02-07T16:45:21+11:0014 March 2019|

Retirees’ downsizing measure now legislated

On 13 December 2017, the Government’s downsizing proposal was passed as law meaning that older Australians may be able to boost their retirement savings if they sell the family home. The downsizing measure From 1 July 2018, if you are over 65 years, you may be able to contribute up [...]

2022-02-12T17:27:38+11:0031 January 2018|

Women and men – a super difference

The gender gap is still clear when it comes to superannuation, with latest data from the ABS* showing that on average, men retire with 80% more superannuation savings than women. That’s a big difference, a difference that makes it more likely for women to have to rely on Government pensions [...]

2022-02-07T17:20:51+11:0020 September 2016|