The Australian Financial Review --- Page: 3 : 28 August 2007 Original article by Alison Kahler
LexisNexis Summary
Australians flocked to put money into superannuation in the June quarter of 2007. They were keen to capitalise on generous tax benefits that were introduced on 1 July. Figures from the independent research group, Plan for Life, show just how much money poured into super in the period. Up to $A20 billion extra flowed into retail super in the quarter. Australians poured money into super, allocated pensions, unit trusts, managed funds and cash trusts. Changes to the super laws mean that super can be taken free of tax after the age of 60. It is also easier to get the aged pension and still have other assets, so many people are saving heavily for retirement.
