New conditions of superannuation release, for persons suffering from terminal medical conditions, have been announced by the Minister for Superannuation and Corporate Law, Senator Nick Sherry.
"Under the previous early release rules, persons in this situation who continued working faced restrictions on the amount of benefits they could access,” says Sherry. “The new condition of release will give persons with terminal medical conditions unrestricted access to their superannuation benefits."
The move complements the changes in the Tax Laws Amendment (2008 Measures No. 1) Bill 2008, allowing tax free superannuation lump sum payments to persons suffering from terminal medical conditions.
Bookmark article at:These icons link to social bookmarking sites where readers can share and discover new web pages. powered by moSociable 1.0.1 by www.waltercedric.com
