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New laws on superannuation may affect some Australians

Superannuation changes could leave some worse off

Elderly Australians shopping Source: AAP

New laws, designed to ensure superannuation balances are not being eaten up by insurance premiums and fees, could see some Australians actually lose money. New laws to be introduced in July will see accounts that had no contributions for 16 months or that hold less than six thousand dollars transferred to the Australian Taxation Office.


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By Allan Lee, Dubravka Voloder

Presented by Abu Arefin

Source: SBS




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New laws, designed to ensure superannuation balances are not being eaten up by insurance premiums and fees, could see some Australians actually lose money. New laws to be introduced in July will see accounts that had no contributions for 16 months or that hold less than six thousand dollars transferred to the Australian Taxation Office.



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