SCOA Australia has written to Treasurer Josh Frydenberg regarding the issue of the calculation of the reversionary benefit in relation to the $1.6 million Transfer Balance Cap (TBC).  An anomaly in the legislation means that the  TBC is calculated on the full amount of the primary pension although the reversionary pension is typically only around … Read more

We have received the following updated information from the Australian Taxation Office regarding the 2018 PAYG payment summary. The changes to the information on the 2018 PAYG payment summary came about following the changes from 1 July 2017 to the way capped defined benefit income streams are taxed as a result of the introduction of … Read more

SCOA Australia has welcomed the announcement today by Prime Minister Scott Morrison to drop the policy to increase the age pension age to 70 as announced in the ill-fated 2014 Budget. The Acting President, John Blount, said that our members are already doing it tough; having to wait another three years to access the extra … Read more

SCOA Australia has today written to Opposition Leader Bill Shorten in similar terms as the letter sent to Prime Minister Scott Morrison to raise the issues of indexation and taxation of CSS and PSS pensions and to seek the ALP’s position on these issues. Click here to read the letter to Bill Shorten

SCOA Australia has today sent a letter to the Australian Taxation Office pointing out the many challenges that have arisen as a result of the changes made to the information included in the 2018 PAYG summaries and the 10% tax offset. Click here to read the letter to the ATO

SCOA Australia has today written to Prime Minister Scott Morrison to congratulate him on his appointment as Prime Minister of Australia and to raise the issues of indexation and taxation of CSS and PSS pensions with the new Prime Minister. Click here to read the letter to Prime Minister Scott Morrison

Tax Help program If you need help lodging your tax return, you may be eligible for the Tax Help program provided by the Australian Taxation Office. Tax Help is a network of ATO-trained and accredited community volunteers who provide a free and confidential service to help people complete their tax returns online using myTax. Tax … Read more

Many members contacted SCOA in early July 2018 after they received their payment summary from the Commonwealth Superannuation Corporation (CSC) and discovered that the amount showing the 10% tax offset was not included in the summary as it usually was. We have received the following information from CSC in this regard: So that your 2017-18 … Read more

The Australian Council of Public Sector Retiree Organisations (ACPSRO) today threw its support behind a call by the Defence Force Welfare Association (DFWA)’s call to have the Commonwealth Superannuation Corporation included in the Banking Royal Commission’s Terms of Reference. Go to ACPSRO’s page to read the DFWA’s arguments, their open letter to the Prime Minister … Read more