The Federal Treasurer, Josh Frydenberg has confirmed that the Government’s hardship early access superannuation scheme will be extended until 31 December.
Access to the scheme had originally been intended to end on 24 September.
In his economic announcement today, he said the Government was extending the application period for the measure from 24 September 2020 to 31 December, 2020, to increase the scope for individuals who may still be financially impacted by COVID 19 to access early release in the coming months.
“Eligible Australian and New Zealand citizens and permanent residents were able to access up to $10,000 of their superannuation before 1 July, 2020. They can access a further $10,000 until 31 December, 2020,” the Government announcement said.
BlackRock boss Larry Fink praised Australia’s superannuation system in his annual chairman’s letter.
The prudential regulator has announced it will publish new expenditure data of superannuation funds, providing details on expenses like advice, director remuneration, and payments to unions.
Affirming the UK’s growing attractiveness as an investment destination, a number of Australia’s largest investors recently joined the UK Foreign Secretary for an exclusive briefing in Canberra to discuss further opportunities for trade and growth.
The specialist superannuation law advisory practice is set to wind up, with managing partner Jonathan Steffanoni planning to bring a new offering to market.
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