Good afternoon
Welcome to this very special edition of AUSCOAL Extra

Last night the Federal Government handed down the Federal Budget for 2009-2010. There were a number of announcements that may affect your super and pension savings from 1 July 2009. There is a small window of opportunity to take action before these changes take affect. 

For more information about the entire budget read AUSCOAL Advisory Services budget report Click to download file. You may also like to watch the Mercer Budget Bytes Vodcast or visit our NEW LOOK website for the latest news on the budget through our NEW streaming news service.

For key super changes and what you can do to grow your savings now 

Key changes to super

• The amount members can concessionally contribute to super will be cut, including for transition to retirement plans from the 2009-10 financial year.
• The government co-contribution matching rate, where the government may match your contribution to super, will reduce from 1 July 2009.
• Account-based pension draw down relief has been extended for 12 months.
• Age pension qualifying age will rise to 67 years of age from 2023.
  

Your window of opportunity

• You may still be able to contribute up to $100,000 to super at a concessional tax rate (depending on your age) before the end of the financial year.
• To take advantage of the current co-contribution matching rate of up to $1500, you need to be eligible and you need to contribute up to $1000 to super before 30 June.

What do I need to do?

• Read our fact sheets on related topics.
• Call an AUSCOAL service officer on 1300 366 212 if you need more information.

To understand how these changes may affect you, or to get advice on wealth creation, retirement planning, maximising Centrelink and more:

• Speak to your AUSCOAL Advisory Services Financial Advisor or 
• Call 1300 366 212 today to make an appointment.