Budget confirms end to domestic violence early release

budget 2021 superannuation early release of super early release of superannuation

11 May 2021
| By Mike |
image
image
expand image

The Government has used the Budget to confirm it will not be proceeding with its proposed move to extend early release superannuation to victims of family and domestic violence.

The Budget papers revealed that the decision to not proceed with the measure meant an estimated decrease in receipts of $110 million over the forward estimates and a decrease in payments by $27 million because Australian Taxation Office funding to implement the measure was no longer required.

“Overall, this measure is estimated to decrease the underlying cash balance by $83.0 million over the forward estimates period,” it said

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

2 days 18 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 week ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 5 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 6 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

5 days 23 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

5 days 2 hours ago