From July, Australians earning less than $450 a month before tax will be paid superannuation.
that also increased the limit on the maximum amount of voluntary contributions eligible to be released under the First Home Super Saver Scheme from $30,000 to $50,000.
Earlier in the week, Rest chief executive Vicki Doyle called on the government to pass the legislation this week. The Association of Superannuation Funds of Australia chief executive Martin Fahy said the abolition of the $450 threshold was “an important step towards improving the retirement savings for low-income earners, particularly women and younger Australians who work part-time, whose superannuation is adversely affected by this threshold”.
The review found the main driver of the gender gap in superannuation balances at retirement was the “working-life earnings gap between men and women”.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Parliament seals super boost for 300,000 AustraliansFrom July, Australians earning less than $450 a month before tax will be paid superannuation.
Read more »
Grace Tame and Brittany Higgins: nine key moments from the sellout press club eventThe 2021 Australian of the Year and the Liberal staffer who triggered parliament’s MeToo reckoning did not mince words while putting politicians on notice
Read more »
Barnaby Joyce announces federal government will split the $1.2b Paradise Dam billThe federal government has announced it will provide up to $600 million towards the cost of restoring Queensland's Paradise Dam to its full 300,000-megalitre capacity.
Read more »
Australian firm boosts Biden’s electric car revolutionA leading Australian electric car charging manufacturer has turned to the US to expand its operations, blaming the lack of government incentives for Australia having one of the worst electric vehicle uptakes in the world FarrahTomazin | EV US
Read more »
Australian firm boosts Biden’s electric car revolutionThe CEO of Brisbane-based firm Tritium blames a lack of government incentives for Australia having one of the worst electric vehicle uptakes in the world.
Read more »
Victoria becomes the third jurisdiction to decriminalise sex workVictoria has become the third Australian jurisdiction to decriminalise sex work as campaigners gathered outside parliament to push for the move. 9News
Read more »