From: Subject: Super reform 'will boost appeal' | NEWS.com.au Business Date: Tue, 12 Jun 2007 11:33:56 +0700 MIME-Version: 1.0 Content-Type: multipart/related; type="text/html"; boundary="----=_NextPart_000_026A_01C7ACE5.8FA98BD0" X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2900.2180 This is a multi-part message in MIME format. ------=_NextPart_000_026A_01C7ACE5.8FA98BD0 Content-Type: text/html; charset="Windows-1252" Content-Transfer-Encoding: quoted-printable Content-Location: http://www.news.com.au/business/story/0,23636,21712366-5000402,00.html?from=public_rss Super reform 'will = boost appeal' | NEWS.com.au Business

Super reform 'will boost appeal'

May 11, 2007 12:48pm

Article from: AAP

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AUSTRALIANS are being urged to inject more of their money = into=20 superannuation ahead of a major change that will allow tax-free access = to the=20 cash on retirement.

Federal Treasurer Peter Costello said = from July=20 1, benefits tax would no longer apply to either lump-sum payouts or = pensions=20 drawn from superannuation accounts.

The Treasurer said the reform = would=20 make superannuation a more attractive place for people to invest for = their=20 retirement.
 
"If you're over 60 and your superannuation is = in a=20 taxed fund, which most of all superannuation is, you can take your=20 superannuation tax free,'' Mr Costello said in detailing the change = today.=20

"Tax free for a lump sum, tax free for a pension, it means that=20 superannuation is very attractive for people to save for their = retirement and it=20 means people should, if they can, look at putting some of their own = money into=20 super.''

Mr Costello also announced a $69 million "Better = Super''=20 advertising campaign over two financial years to promote the changes.=20

Advertisements will run in the weeks before and after July 1, = and in=20 April next year, and a booklet will be mailed to 10 million Australian=20 households.=20

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