Sent: 15-11-2011 11:04:03
In this issue:
Return to full article list
HomeFree weekly newsletterSelf Managed Super Fund ArticlesContact usLogin
Changes to the Super Guarantee
The Assistant Treasurer has announced that Australians aged at least 75 will receive Super Guarantee payments.
He announced that this idea came about because of lobbying by four ALP Parliamentarians and Rod Oakeshott and Tony Windsor.
This change is expected to apply from 1 July 2013.
It's often quite hard for older workers to get employment (the fantastic comedy "One Foot In The Grave' is testimony) to this. I hope this change doesn't make finding work even harder. At present an employer has a small incentive to employ an older worker - they don't have to make compulsory super contributions.
But now that this change will probably go then what incentive do employer's have.
It's been my view for some time that lifelong learning will have to become part of our cultural makeup.
In the great book Mao's Last Dancer, the mother expresses concern for a son who has an injured hand and his inability to earn a living so that he can survive.
Unlike Western countries China has very little social welfare. But soon most of the countries won't be able to afford their expensive social welfare programs either.
As T.S. Elliot said most people can't handle too much reality. Those with an expectation of assured entitlement are about to get a very rude shock.
A few years ago a US State cancelled the defined benefit pension benefits of its employees because it could no longer afford them. I suppose the same could technically happen here and anywhere else for that matter.
Finally please consider purchasing a copy of this book "A How To Book Of Self Managed Super Funds". You can look at the contents page at the following link: http://www.atcbiz.com.au/r.php?r=0mjd6ne
For details of the changes made from version 4 to version 5 visit: http://www.atcbiz.com.au/r.php?r=d5xcpch
As you'll see from the list there have been many changes.
Two purchase options are available - once only subscription - $55 inc GST - or an annual subscription will gives you access to all the updates made throughout the year ($120 inc GST). The book can be purchased at the following link: http://www.atcbiz.com.au/r.php?r=5a4agqb
This email is general in nature only and does not constitute or convey specific or professional advice. Legislation changes may occur quickly. Formal advice should be sought before acting in any of the areas discussed. Be aware that the information in these articles may become innaccurate with time. Responsibility is disclaimed for any inaccuracies, errors or omissions. Particular investments are neither invited nor recommended and hence this publication is not "financial product advice" as defined in Section 766B of the above legislation. All expressions of opinion by contributors are published on the basis that they are not to be regarded as expressing the official opinion of any other person or entity unless expressly stated. No responsibility for the accuracy of the opinions or information contained in the contributor's articles is accepted by any other person or entity. Copyright: This publication is copyright. If you wish to reproduce this article you require a license, which can be purchased here, to do so.