Current issues, events and legislation
SCOA Australia 2017 Annual General Meeting
SCOA Australia’s 2017 Annual General Meeting (AGM) was held in Canberra on 26 September 2017.
At the AGM, all members of the current National Committee (except the Ex Officio Secretary) stood down and a new National Committee was elected for the next 12 months.
Superannuation legislation introduced in September 2017
A number of Bills were introduced into Parliament in September 2017 making a number of amendments to superannuation legislation.
Click here to read SCOA’s submissions to the Senate Committee current inquiries into the new legislation.
Superannuation changes announced in the 2016 Federal Budget as changed by announcement in September 2016
Legislation has been passed to enact the taxation and superannuation changes announced in the 2016/17 Federal Budget. Click on the following links to read more about the changes and how they may affect your Commonwealth superannuation pension.
For further updates from the CSC, go to www.csc.gov.au
Cap on deductible amount for Age Pension
Legislation has been passed by the Parliament to cap the deductible amount applying in relation to the income test for the Age Pension. The deductible amount will be capped at 10% for the recipients of a PSS or CSS pension.
The deductible amount is the tax-free component of a PSS defined benefit pension or the tax-free component of the non-indexed additional CSS pension. The tax-free component of these pensions is shown on the pension increase advice issued in January and July each year.
Those that have a tax-free component greater than 10% of their PSS or CSS pensions and also receive a part-Age Pension will have their part-Age Pension reduced under the income test as only 10% of their pension will not be regarded as income for the income test. Previously the full amount of the tax-free component was not regarded as income for the Age Pension income test.
PSS and CSS pensions are not subject to the Centrelink assets test. Military superannuation pensions, that is, DFRB, DFRDB and MSBS pensions, are exempt from this change. The measure commenced on 1 January 2016.
Write a letter to your local politician
Since this measure was first announced, SCOA (together with ACPSRO) has tried to persuade the government to repeal it or at least grandfather it. So far without any success. So, now we are asking you, our members, to write to your local MP or Senator and tell them how it has affected your fortnightly income. Use the draft letter here for inspiration and personalise it as you wish.
Open this document to see some examples of how this may affect you.
Open this document) to see some calculated examples of the effect of the ten percent rule (Excel spreadsheets).
Open this document to read a paper delivered by Annette Barbetti to the Annual General Meeting of SCOA Australia on 29 November 2016.
Or, go to the ACPSRO page and read the Ten Percent Cap Issue Explained.
2015 Intergenerational Report
The government has released the 2015 Intergenerational Report. The Report attempts to predict what Australia will look like in 2055 in terms of the economy, health, education, employment and social services. You can download the entire report here. 2015 Intergenerational Report
SCOA on PSNewsOnline
From time to time, SCOA contributes items for the PS News Online publication. They can be downloaded in the table below.
|16 May 2017||Comments on federal budget|
|16 May 2017||Welcome to SCOA Australia|
|28 June 2016 Press Release||Please hold your fire|
|10 June 2016 Press Release||The Truth About Public Service Pensions|
|3 December 2015||What is the Ten Percent Issue|
|1 December 2015||Welcome to SCOA December 2015|
|3 June 2013||Welcome to SCOA|
|13 June 2013||Unfair taxation of Commonwealth Superannuation pensions|
|17 June 2013||Indexation of your pension|
|25 June 2013||No Surprises in the current Federal Budget|
|5 July 2013||Go and see your local MP|
|13 July 2013||Got some spare Cash|
|18 July 2013||Full on Fair Go|
|25 July 2013||To cut or not to cut|
|1 August 2013||Public Meetings|
|8 August 2013||Summing Up|
And, here is a link to the PS News Online publication for more interesting news of interest to public servants, present and former.