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Significant updates were made to the superannuation system in Australia in 2023 and 2024. [16] The Superannuation Guarantee (SG) rate, which had been gradually increasing over the years, reached 10.5% in 2022 and is set to continue rising by 0.5% each year until it hits 12% by 2025. [16]
The 2023–24 Australian federal budget is the federal budget to fund government services and operations. The budget was presented to the House of Representatives by Treasurer Jim Chalmers on 9 May 2023. It was the second budget handed down by the Australian Labor Party since their election to government in 2022.
The Australian Retirement Trust (ART) is an Australian superannuation fund headquartered in Brisbane, Queensland. It has over A$300 billion in retirement savings under management and 2.4 million members, making it Australia's second-largest superannuation fund.
MTAA Super (Motor Trades Association of Australia Superannuation Fund) is an industry superannuation fund established to serve the motor trades and allied industries. Created in 1989, it has become one of Australia's largest super funds.
State Super is a superannuation fund in Australia that was established in New South Wales in 1919. It serves current and former government employees and public sector workers. As of June 2023, it manages close to $38 billion AUD in assets and has around 86,840 members.
AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria.It is an industry super fund, and so operates through a mutual fund structure.. With over A$ 340 billion of retirement savings under management and more than 3.4 million members, AustralianSuper is the largest superannuation fund in Australia and the sixteenth largest pension fund in the world.
Get insights into the 2024 mortgage rate forecast. Learn when mortgage rates might go down and plan your financing strategy accordingly. ... 2023, rates had climbed to 7.79%, the highest rate ...
While the rate will stay fixed at 30% in the meantime, the Turnbull government plans to reduce it to a rate equal to the small and medium business tax rate of 27.5% in 2023-24, before being reduced to 27% in 2024-25, 26% in 2025-26, and eventually a fixed rate of 25% in 2026-27. [14]