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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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, [...]
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 [...]
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 [...]
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