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Self Managed Super Fund (SMSF) Article
The New Super Lingo

By Tony Negline.

This article may be out of date.

8th August 2007

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One of the more difficult aspects of superannuation is its terminology.  Perhaps a Martian who happened upon a meeting of superannuation practitioners might have difficulty understanding the strange dialect!

The terminology comes from three distinct places – statutory laws, industry practice or company administrative fiat.  Most of the time the terminology comes from government rules.  When the government changes the rules it often introduces new jargon and acronyms which have to be learnt.  It will come as no surprise that the new super laws contain over fifty new terms.  You will not need to worry about the majority of these.  However whenever the tax office or your super fund communicates with you, they will use some of the new terminology so it’s important to know what they are telling you.  Here is a list of 21 new terms which will become common:

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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.

 
 
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