Author: Recruitment Super
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Macquarie to Repay $321 Million to Shield Master Fund Investors
Macquarie has agreed to repay $321 million to thousands of Australians affected by the collapse of the Shield Master Fund. The Australian Securities and Investments Commission (ASIC) revealed that Macquarie breached the Corporations Act by failing to ensure the fund was monitored effectively. This led to 3000 investors losing their money. The Investor’s Blueprint: Asset…
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Early Superannuation Release: Financial Hardship Relief and Considerations
Early release of superannuation due to severe financial hardship can provide a lifeline for individuals facing financial struggles. While superannuation is typically preserved until retirement, certain circumstances allow for early access. Under Australian law, individuals meeting strict eligibility criteria and whose super funds permit it can access up to $10,000 if they are receiving Centrelink…
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Private Ruling Clarifies Superannuation Withdrawal Status Upon Member’s Passing
A recent private binding ruling clarified the status of a lump sum withdrawal requested by a superannuation member shortly before their passing. The ruling highlighted that despite the timing of the withdrawal request and subsequent deposit, the funds were still considered part of the member’s superannuation benefits. The ruling focused on a specific case where…
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SMSF Members Urged to Understand Superannuation Access Rules
Understanding superannuation access rules is crucial for SMSF members navigating retirement to prevent illegal access to their retirement funds. Failure to meet the conditions of release could inadvertently lead to unauthorized early withdrawals, emphasizing the importance of clear documentation, according to a technical specialist. A PRACTICAL GUIDE TO AUSTRALIAN SUPERANNUATION: A Plain-English Guide to Maximising…
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Longevity Trends Transform Retirement Planning Strategies for Future Security
Life expectancy is on the rise, with predictions that by 2050, it could reach 90 years. This longevity, coupled with improved health in older age, has significant implications for retirement planning. Superannuation rules are adapting to reflect these changes, allowing contributions up to age 75, prompting a shift in wealth management strategies. A PRACTICAL GUIDE…
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Simpler Super: Experts Propose Reforms to Ease Retirement Planning
In a recent podcast, Brendan Coates and Joey Moloney from Grattan Institute delve into the complexities of retirement planning in Australia. Their report, “Simpler super,” sheds light on the overwhelming nature of retirement income management for many Australians. Surveys indicate that a significant portion of the population finds retirement planning stressful, leading to financial concerns…
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ATO Warns Dental Practitioners: Super Claims Must Meet Criteria
Australian Taxation Office (ATO) has raised concerns over the increasing number of superannuation claims for dental procedures that do not meet eligibility requirements. Dental practitioners are being cautioned to adhere strictly to the guidelines set by the ATO to avoid misleading advice and misconceptions. MOTYYA Dental Cleaning Tools 6 Pack, Professional Dental Hygiene Kit teeth…
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Government Introduces Stricter Standards for Superannuation Member Services
The Australian government has initiated a crackdown on subpar member services in the superannuation sector, particularly focusing on delays in processing death benefits and insurance claims. Treasurer Jim Chalmers and Minister for Financial Services Stephen Jones announced the introduction of new mandatory industry standards to address these issues. Better Australia: Politics, Public Policy and How…
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Farmers Fear Superannuation Reforms Threaten Family Legacy
In the serene countryside, a father and son, Murray and Tom Norman, start their day tending to their sheep on the family farm, Glenmore. The Normans, with a rich history of farming that spans over a century, are deeply concerned about the proposed superannuation reforms that could jeopardize their way of life. XIAOXIAXIAODENI 900W Sheep…