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ATO call centre contacting hundreds for eligibility to early access of super

COVID-19 | ‘Hundreds’ to be Contacted in ATO Early Super Compliance Blitz

Emma Zajac
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Hundreds of Australians who applied for the COVID-19 early release of superannuation are set to be queried on their eligibility as the ATO kicks off a pilot compliance program. The ATO will now contact “hundreds” of people who appear to have been ineligible for the early release of super but have gone ahead to raid their…
Young Couple Experiencing Financial stress and wanting to access their super early

COVID-19 | Taxpayers Cautioned on Early Super Release

Emma Zajac
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Taxpayers have been urged to reconsider applying for the early release of super to simply obtain tax benefits, with the loophole going against the intent of the government’s COVID-19 relief measures. Temporary early access to super was one of several changes made to superannuation as a part of the government’s second stimulus package to offset the economic…
The Second $66.1 bn Stimulus Package: What You Need To Know

The Second $66.1 bn Stimulus Package: What You Need To Know

Emma Zajac
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The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws. The stimulus measures are not yet legislated. Parliament will reconvene on Monday 23 March.…

New Laws for Super, Insurance and Exit Fees

Emma Zajac
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From 1 July 2019, new laws commenced preventing superannuation providers from eroding member balances with unwanted or unnecessary insurance and exit fees. Plus, inactive accounts with low balances are now moved to the ATO to try and unite the unclaimed super with its owner. These changes do not apply to self-managed superannuation funds or small…

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