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

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
• What Australia’s $189bn coronavirus economic rescue package means for you
• Follow our Australia coronavirus live blog
• Follow our global coronavirus live blog
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.
Continue reading…

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

What Australia’s $189bn coronavirus economic rescue package means for you
Follow our Australia coronavirus live blog
• Follow our global coronavirus live blog

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.

Continue reading…

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