16 February 2017 – Answer not good enough

An Answer to a Question on Notice from ACT Senator Katy Gallagher in November 2016, regarding the ten percent cap on the amount of a defined benefit pension that can be excluded from the age pension income test, has been provided by the Department of Social Services.

SCOA believes the Answer leaves a lot to be desired and SCOA’s Federal President, Dr Annette Barbetti, has today written to Minister Christian Porter pointing out the deficiencies and unfairness of the legislation, requesting that the Government repeal the legislation as a matter of urgency.

You can read the letter here . Click here to read more about the “ten percent issue”.

Canberra
16 February 2017

14 February 2017 – Updated 2016 Federal Budget information from Commonwealth Superannuation Corporation

The Commonwealth Superannuation Corporation has updated the information regarding certain measures in the 2016 budget, relevant to CSS and PSS pensioners.

The material is available on the CSC’s website.

Relevant links are:

Canberra
14 February 2017

12 Jan 2017 – SCOA Australia Annual General Meeting report

SCOA Australia’s 2016 Annual General Meeting was held in Melbourne on 29 November 2016.

Go to the SCOA Australia page where you can read a brief report of the AGM and see the details of the new committee members elected at the AGM.

The AGM also approved some amendments to the SCOA Australia Rules.  These can also be viewed/downloaded at the SCOA Australia page.

Canberra
12 January 2017

 

28 Sep 2016 – Changes to tax rates for pension payments

SCOA has received the following information from the Commonwealth Superannuation Corporation:

The Australian Taxation Office (ATO) has released the new tax rates for the 2016/17 income year which will apply from 1 October 2016.

The ATO has advised that the tables do not include any catch-up component for the portion of the year which has already passed, and that individuals affected will receive the full benefit of the tax changes upon assessment of their income tax return for the 2016-17 income year.

According to the ATO, the new rates will affect approximately 30,000 CSS/PSS pensioners with the changes resulting in a reduction in fortnightly tax of between $2 to $14.  The majority of pensioners will have their fortnightly tax changed by $2.

Pensioners who think they might be affected, or want to obtain more information on how this could impact their tax payable for the 2016-17 financial year, should speak to a taxation advisor or financial planner.  Alternatively, they could contact the ATO on 13 28 61 if they have any questions or require assistance.

Canberra, 28 September 2016

21 Sep 2016 – No more cap on $500,000 superannuation contributions

SCOA Federal Council President, Dr Annette Barbetti, today said that SCOA welcomed the Coalition government’s decision to scrap the $500,000 lifetime cap on non-concessional superannuation contributions.  However, said Dr Barbetti, we are disappointed with the decision not to remove the restrictions on voluntary superannuation contributions for 65 to 74 year olds, since it does not take into account the increasing longevity of Australia’s population, and does not support the Government’s stated objective of providing income in retirement to substitute for or supplement the Age Pension.

Read the full press release here

Federal Office
21 September 2016

12 Sep 2016 – Poorer defined benefit pensioners continue to suffer

On 12 September, the Australia Council of Public Sector Retiree Organisations (ACPSRO) released a media statement alerting retirees to the above outline of recent 10% cap correspondence, and requested retiree organisations to circulate the statement to their members so they can continue to protest to their own Members of Parliament.

For more comprehensive information on this issue, go to the ACPSRO page.

Inquiries to:
Richard Griffiths
National President
Australian Council of Public Sector Retiree Organisations (ACPSRO)
Mobile 0412 164 404

Canberra, 12 September 2016