Business Services Industry
[1665] Call for relaxation of super preservation for under 35s.
Australasian Business Intelligence, October, 2005
Byline: Stuart Jones
Oct 10, 2005 (Weekly Tax Bulletin - ABIX via COMTEX) -- Mercer Human Resource Consulting has proposed a number of changes for Australia's
superannuation laws. The aim of the proposed changes is to encourage more Australians under 40 years of age to save for their retirement. Mercer's submission to the House
of Representatives economics committee includes measures such as cutting the rate of superannuation fund tax from 15 per cent to 10 per cent and allowing people under the age
of 35 years to withdraw up to 50 per cent of all personal contributions to their superannuation fund at any time and for any purpose.
...
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