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If you can’t view this newsletter please click here to view
it online
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Union Benefits Update June 2012
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Brrrr! Is that a touch of Jack
Frost upon our noses? Winter has cloaked us in its chilly embrace but
Member Connect is here to warm the cockles of your heart with the June
edition of your Union Benefits Update. We have all the latest member
deals from ME Bank, plus our Congress wrap up and two exciting DVDs on
offer in our competition!
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The 2012 ACTU Congress, held
from 15-17 May in Sydney, endorsed a clear, renewed plan to campaign for
better rights for workers within a fairer economy and society. Overall,
the Congress adopted 20 policies and passed 21 separate resolutions. All
Congress policies, resolutions, speeches, and a plethora of other
information is available at www.actucongress.org.au.
We would like to thank ME Bank and all our Congress sponsors for their
support. To find out who our sponsors were please view our Sponsor
page on the ACTU Congress website.
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Dave Oliver has begun as the
new Secretary of the ACTU following his election at the ACTU Congress. He
is the ninth person to fill the role since the ACTU was established in
1927. Mr Oliver replaces Jeff Lawrence, who decided not to seek
re-nomination after five years in the post. Mr Oliver said he was
honoured to be entrusted with representing Australian workers and their
families, and has outlined an agenda to increase the campaigning capacity
of the ACTU and also strengthening secure jobs across the economy, but
especially in areas under pressure from the high dollar and the mining
boom. Prior to the ACTU, Mr Oliver was National Secretary of the
Australian Manufacturing Workers Union.
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ME Bank has enhanced the
product range available under the Member Package. They now offer
interest-only investment loans as well as the standard variable home loan
with an offset account.
A Member Package is a complete banking solution, offering the ease of
having all of your main accounts with one bank, working together to save
you money and time.
The SMHL Interest Only Investment Loan is available with an interest-only
period of up to five years with a choice of either a variable or
fixed-rate term of one, three or five years. At least 50% of the loan
must be for investment purposes, for loans from $40,000.
For the second consecutive year the Member Package has been awarded the
2012 Gold Medal for Best Bank Standard Variable Home Loan Ultimate Offset
Account by Your Mortgage magazine. This is further recognition that ME
Bank's Member Package offers the best value for members of eligible
unions and industry super funds over the life of their loan.
ME Bank is 100 per cent owned by Australia's leading industry super funds
providing members of unions and industry super funds with genuinely
fairer banking.
For more information call 13 15 63 or visit mebank.com.au.
Disclaimer:
Terms, conditions, fees and charges apply.
Applications are subject to credit approval. Members Equity bank Pty Ltd
ABN 56 070 887 679. Australian Credit Licence 229500
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In the 2012 Federal Budget the
government announced that it was seeking to defer the higher $50,000
concessional cap (ie. generally employer and salary sacrifice
contributions) for individuals aged 50 and over with account balances
under $500,000, for two financial years.
This means the standard cap of $25,000 per annum will apply to everyone,
no matter their age in financial years 2012/2013 and 2013/2014.
If you exceed this concessional contributions cap you may incur
considerable tax penalties.
This deferment may have a major impact on those people aged 50 and over
who have been trying to increase their super savings in their final years
before retirement.
If you are currently making or receiving concessional contributions,
including salary sacrifice and/or have Transition to Retirement strategies
in place, it may be a good time to arrange a meeting to review your
financial plan, and assess if any changes need to be implemented.*
To find out more, visit ifs.net.au and download their Budget Update Summary or
call 1300 138 848 to arrange an appointment to speak to one of their
financial planners.
The cost of reviewing a
financial plan may be tax deductible. Industry Fund Services Limited, ABN
54 007 016 195, AFSL 232514 is one of the largest providers of financial
services and products to industry super funds, unions and their members.
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Enter the draw to win one of 2
copies of both ' God In America' and ' Luke Nguyen's
Greater Mekong' Member Connect are giving away to 4 lucky union
members this month!
To win a copy of 'God In America' email memberconnect@actu.org.au
before 5:00pm AEST Monday 18th June 2012.
To win a copy of the 'Luke Nguyen's Greater Mekong' email memberconnect@actu.org.au
before 5:00pm AEST Monday 18th June 2012.
Only members of ACTU affiliated unions are eligible to claim prizes.
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Depending
on your income, making an additional after-tax contribution to your super
may qualify you for a matching government payment of up to $1,000,
referred to as a government co-contribution.
To qualify, your super fund must receive the payment before 30 June 2012.
However, you should check with your fund as some have earlier cut off
dates for end of financial year payments.
Do I need to tell the government I have made the payment?
No, the payment is made automatically to your super fund if you qualify
after your tax return is finalised.
To be eligible for a co-contribution:
- Your income must be less
than $61,920 p.a.
- You must be eligible to
contribute to superannuation.
- You must make after-tax
contributions during the financial year.
To
qualify for the maximum co-contribution amount of $1,000:
- Your income for
co-contribution purposes must be $31,920 p.a. or less.
- At least 10% of that
income must be earned through eligible employment, which may include
self-employment.
To find out how
much co-contribution you may be eligible for in 2011/12 or to find
out more about co-contributions watch their webcast.
Please note, while not yet legislated, the government has announced that
it considering reducing its co-contribution by 50% (from current levels)
in 2012/2013
Industry Fund Services
Limited, ABN 54 007 016 195, AFSL 232514 is one of the largest providers
of financial services and products to industry super funds, unions and
their members.
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Member Connect have a brand
new brochure about all the great benefits for union members. These are
available for unions and delegates.
To celebrate the release of our new look we are giving away 20 of the
brochures for your workplace along with a great new Member Connect water
bottle to 10 lucky union members!
Email memberconnect@actu.org.au
to go into the draw by 5:00pm AEST, Monday 18th June.
To see the new brochures view them online now.
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Last month we farewelled Member
Connect team member Jill Harahap as she took up residence on Gili Air, a
small island in Indonesia. Jill came to the ACTU in 2004 and started in
the role of Workplace & Superannuation Marketing Officer in 2007. We
will miss Jill's vibrant personality and have valued her contributions
over the years. We wish her all the very best for her adventures abroad!
Mary Doyle is now permanently employed in the role of Workplace &
Superannuation Marketing Officer and comes to us with a wealth of
experience, having performed the role between 2009 to 2012. Mary
previously worked as an Organiser for two different unions before joining
Member Connect.
Rebecca Patena, Partnership Manager at Member Connect, is about to take
parental leave. We wish her all the best with the birth of her new baby!
Jackie Kimpton will be backfilling Rebecca's role during this time,
creating an opening at Member Connect for an Administrative Officer and
Receptionist. If you are interested in applying for this role please apply online.
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The inaugural ACTU Youth
Congress was a huge success towards re-invigorating youth activities
within the ACTU and unions. Over 150 delegates attended the Youth
Congress to discuss their role in unions, and debated and endorsed a new
Young Workers' Policy aimed at better representing young workers. The
Youth Congress was also the culmination of the ACTU-OurSay/Secure Jobs
for a Better Future forum, which allowed people to engage directly online
with the ACTU. A video of ACTU President Ged Kearney's answers to OurSay
will soon be available at OurSay.org.
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Be empowered to take control
of your career at Macquarie University's annual Women, Management &
Work Conference. Inspirational leaders in business and government will
share their stories and practical advice on how to embrace your full
potential and become an influential leader.
This year's theme is Inspiration and Empowerment - Creating your future,
encouraging women to achieve higher leadership roles throughout
Australia.
This two day conference will provide you with practical advice on
empowerment, negotiation, social networking, presentation skills, workplace
diversity networking, mentoring, and career development.
For more information please view the full conference program.
Date:
12 - 13 July 2012
Event:
Women, Management and Work Conference
Where:
Sofitel Sydney Wentworth, 61-101 Phillip St, Sydney
Book now
at www.mm.mq.edu.au/wmwc
Cost:
Discount for union members: $1,725. To access, simply register using
normal prompts, then select $2300 and enter the discount code: m2mb2rs
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