Tag: ATO
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Australia’s Super Compassionate Withdrawals Spark Consumer and Regulator Alarm
Rising Compassionate Withdrawals Spotlight Health Costs and Regulatory Risks Australians have increasingly turned to their superannuation to cover urgent medical needs, with more than 1.4 billion dollars approved on compassionate grounds in the past financial year. The trend, which has persisted since 2018-19, is drawing scrutiny from consumer groups and regulators who fear some arrangements…
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Regulators Eye Compassionate Super Withdrawals as Dental Costs Surge in Australia
Growing Pressure as Compassionate Withdrawals Hit New Heights Thousands of Australians are accessing their superannuation on compassionate grounds, with the latest figures showing a sharp rise in approvals for medical-related withdrawals. In the 2024-25 financial year, more than $1.37 billion was approved for medical reasons, climbing from just over $1 billion the previous year and…