Money Management --- Page: 28 : 15 February 2007 Original article by Kate Anderson
ABIX Summary
There are two notable social security reforms in the draft Tax Laws Amendment (Simplified Superannuation) Bill 2006. From 20 September 2007, the pension assets test taper rate will be reduced by 50 per cent. The removal of the 50 per cent assets test exemption for complying streams will take effect on the same date. Retirees with considerable super funds who wish the structure their finances in a way that allows them to receive an Australian Government-funded pension may need to act before 20 September 2007.
