In the 2008-09 Budget, the Federal Government announced measures to reform income tests across the tax and transfer systems; these will come into effect from 1 July. This includes now taking into account items such as salary sacrifice superannuation contributions in benefit calculations. (more…)
As a result of the significant downturn in financial markets, the Government has announced a 50% reduction in the minimum drawdown requirement for account based pensions for the year ending 30 June 2009. This will apply to account based, allocated and term allocated pensions and annuities. (more…)
Legislation changes have opened borrowing options for self-managed super funds. However, as with all investments, it must follow as part of the super fund’s investment strategy. And don’t rush in just yet — the costs are quite high.
UK law changes may affect pension entitlements transferred from a UK pension scheme to an overseas scheme (including Australia).
