Business Services Industry
Budgeting for the young (and lower paid).
Australasian Business Intelligence, July, 2006
Byline: Susan Ryan
Jul 20, 2006 (Investor Weekly - ABIX via COMTEX) -- The Australian Budget simplifies the retirement phase of superannuation. The reforms, announced in May 2006, are likely to reduce the number of retirees needing public pensions. However, greater provisions are needed for younger people on lower incomes. The recommendations of the Standing Committee on Economics & Finance are therefore to be welcomed. The Committee's view that the threshold for the super guarantee (SG) be maintained at $A450 per month or lowered is especially welcome. The recommendation that part of the maternity payment be treated as SG should be adopted as quickly as possible.
Publication Date: July 2006
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