Federal Budget 2009

Australia’s 2009 Federal Budget, announced on Tuesday 12 May, contained a number of changes to Australia’s retirement income system, employee benefits and health insurance, which all have various implications for superannuation funds, employers, and employees.

Our analysis report of the 2009 Budget outlines many of these changes and the related workplace and superannuation implications, including:

• An increase in the age pension age and other social security changes
• Changes to superannuation concessional contribution limits and Government co-contributions
• Capital loss rollover for superannuation fund mergers
• Private Health Insurance changes
• Implications for employee benefits and foreign-earned income exemptions
• Paid parental leave

Read our review of the Federal Budget

Also, immediately after the budget was announced, we interviewed Mercer’s Chief Executive in Australia, Peter Promnitz, regarding some of the key changes to our retirement income system and the high level implications for employers and employees.

Download vodcast (26MB)

  Read Mercer's media response to the Federal Budget