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08 Dec 08 Tax Review to provide early advice on retirement income system

In a joint media release issued on 5 December 2008, the Treasurer, Wayne Swan, and the Minister for Superannuation and Corporate Law, Senator Nick Sherry, advised that the Government has asked the Australia's Future Tax System Review panel to bring forward its consideration of the retirement income system and report by the end of March 2009. The panel will look at all three pillars of the retirement income system – the age pension, the compulsory superannuation guarantee system, and voluntary savings. In particular the panel will make recommendations on the adequacy of retirement income arrangements and the appropriateness of the current taxation arrangements. The panel has advised that they will release a retirement income consultation paper at the same time as they release their broader tax-transfer system consultation paper.

For a copy of the Treasurer's media release, No 2008/135, 5 December 2008, go here.

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