The Age --- Page: B14 : 13 March 2007 Original article by Max Newnham
ABIX Summary
New superannuation laws in Australia could disadvantage many people who do not have two super funds by the start of the 2007-08 financial year. From 1 July 2007, payouts or rollovers will by conducted proportionally in regards to the different components of the fund, and not as directed by the individual as currently occurs. These changes mean it is important for people making significant undeducted contributions to make these into a different fund from the one which contains their taxable benefits. People with funds comprising taxable and undeducted contributions should consider rolling over their exempt benefit into another fund or a self managed fund by the end of the financial year.
