Category Archives: Superannuation

Australia is easing superannuation access for those worst-hit by coronavirus. But can we afford it?

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Tax-free withdrawals will be capped at $10,000 this financial year and will allow those struggling to pay rent, meet mortgage repayments and buy food

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Australians who are laid off as a result of the coronavirus outbreak will be allowed to pull money out of their superannuation, Scott Morrison announced on Sunday.

Withdrawals will be capped at $10,000 this financial year, and a further $10,000 next financial year, and will be tax-free, the prime minister and his treasurer, Josh Frydenberg, said.

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Jacqui Lambie wants deal on union-busting bill ‘as soon as possible’

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Crossbencher ‘hopes to think’ she is close to a deal with government on union penalty bill unexpectedly defeated last year

Senator Jacqui Lambie is looking to strike a deal with the government “as soon as possible” on the union penalty bill, while Labor struggles to contain a debate in its own ranks about union-backed superannuation funds.

Lambie is meeting the industrial relations minister, Christian Porter, on Tuesday to continue negotiations on the bill, which would lower the threshold for the deregistration of unions and disqualification of their officials.

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Food delivery bike couriers in Australia being underpaid by up to $322 a week

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Exclusive: Survey reveals almost all are paid per delivery and a quarter of riders have been in an accident

Food delivery bike couriers are being underpaid by up to $322 a week compared with minimum rates of pay and superannuation in the transport award, according to new union statistics.

The Young Workers Centre – an initiative of the Victoria Trades Hall Council – conducted a survey of more than 240 riders, revealing most are engaged on a “take-it-or-leave-it” basis and almost all are paid per delivery, with no minimum rates of pay.

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Labor grills Angus Taylor over company interests – politics live

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Energy minister accuses opposition of ‘grubby smear campaign against my family’ and ALP pursues Coalition over its superannuation schism. All the day’s events, live

With the chambers all quiet and the rush to the airport in full swing, we are going to go collapse in a heap and stare at a wall.

Until Monday, when the parliament is back for the last sitting ahead of the winter break.

Here’s how Mike Bowers saw some of the day

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Super funds and investors with $34tn urge leaders to speed up climate action

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Fund managers call on world leaders to bring in carbon pricing and phase out coal power ahead of G20

Superannuation funds and investors representing US$34tn in assets – nearly half of the total under management across the globe – have called on world leaders to bring in carbon pricing and phase out coal power to limit global heating to 1.5C.

Released ahead of a G20 leaders meeting in Osaka, Japan, the statement by 477 institutional investors urges world leaders to accelerate their response to the climate crisis to ensure the goals of the 2015 Paris climate deal can be met.

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