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Online updates to PSS Product Disclosure Statement
Maximum benefits limits and Australian Government Super co-contributions
The following information amends the PDS by inserting the information below to replace pages 24, 25 and 43.
Maximum benefits limits and Australian Government super co-contributions
Tax treatment of lump sums
The following information amends the PDS by inserting the table below to replace Table 21 on page 63.
Tax treatment of lump sumsRemoval of same-sex discrimination and family law legislation
New legislation removed same-sex discrimination from Commonwealth superannuation laws. The amending legislation is effective from 1 January 2009 and allows eligible same-sex partners to receive death benefits upon the death of their partner. Eligible children of same-sex couples will also have access to this benefit.
The Family Law Amendment (De Facto Financial Matters and Other Measures) Act 2008 came into effect on 1 March 2009. The new legislation updates the Family Law Act 1975 to provide for opposite-sex and same-sex de facto couples to access the federal family law courts on property and maintenance matters.
The changes also include recognition of financial agreements between de facto couples and superannuation splitting where determined by court proceedings. This was previously only available to legally married couples of the opposite sex.
As a result, the following information amends the PDS by inserting the information below to replace the introduction page, page 17, 35 and 48.