Welcome to the latest issue of the KHQ Super Alert. ASIC has released a report in relation to its enforcement activities in the second half of last year. The ATO has released updated superannuation rates and thresholds commencing from 1 July 2021, as well as its final report into the early release of superannuation scheme.
ASIC – Enforcement update for 2020 activities
On 16 April 2021, ASIC released an enforcement update report for the period 1 July to 30 December 2020. During this time, four criminal cases and 14 civil cases were on foot in relation to superannuation misconduct. One criminal finding and two civil findings of superannuation misconduct were made by the courts during this time.
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ATO – Final report for early release of super scheme
On 5 April 2021, the ATO published the ‘COVID-19 Early release of super report (20 April – 31 December 2020)’ which provides final statistics about applications under the early release of superannuation scheme.
ATO – Key super rates and thresholds
On 31 March 2021, the ATO released updated rates and thresholds for ‘contributions and benefits, employment termination payments, super guarantee and co-contributions’.
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