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Pensioners caught out by welfare changes

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Tropo, 5th Sep, 2008.

  1. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
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    NSW
    05/09/08
    Pensioners caught out by welfare changes

    Seventeen thousand pensioners and students will have reduced benefits from July 1, 2009 because of changes to the definition of income in the federal budget delivered in May. The Government has previously said that 74,400 families on Family Tax Benefit A and B and 18,800 families on Child Care Benefits would be affected.

    Salary sacrifice superannuation contributions will now be counted as assessable income for taxation and welfare purposes.

    Source: The Age