2008-09 Super Co-contribution Payments

Around 200,000 out of a total of 1.3 million of super co-contribution payments may not be made by the Tax Office to superannuation funds by the end of the 2008-09 financial year, due to problems with their systems.  Refer to the 2008-09 Super Co-contribution Payment section for more information.

A superannuation update
from Bernie Fraser,
former Governor of the Reserve Bank

Investment Performance

The 2008/2009 Financial Year has seen a continuation of the investment market volatility we experienced in the previous financial year. For the six months ended 31 December 2008, the Australian Share Market lost 27.2% while overseas shares lost 7.9%.

With approximately 51% of the Fund’s assets invested in shares, these results have impacted on AUST(Q)’s crediting rate for the six months to 31 December 2008 of -12.75%.

As a comparison, the median investment return for retail superannuation funds according to the Mercer Pooled Fund survey was approximately -15%.

AUST(Q) is currently building up its cash reserves and with the assistance of its investment advisor, seek to identify good long-term investment opportunities for the Fund.

New Rules for Tax File Numbers (TFN)

Have you supplied your Tax File Number (TFN)? If you haven't, new laws prevent AUST(Q) from accepting any personal contributions from you plus, additional tax may apply to contributions made by your employer. To advise your TFN or to check if you have already provided your TFN, just click here.

Client Relationship Manager

Sharon Kasa is your Client Relationship Manager. If you would like Sharon to visit your premises to assist in simplifying your administration or for a staff briefing please contact her on (07) 3307 6450 or by fax (07) 3210 0088 or alternatively email skasa@superpartners.com.au

Lifetime of Difference

Being in an industry fund could make a lifetime of difference to your super.