Money Magazine

Extra super will be life-changing

Australian women are among the best educated in the world yet they are under-utilised and underpaid in the workplace and lag behind women in other countries in the Organisation for Economic Co-operation and Development (OECD). But progress is slowly being made to address the ‘motherhood penalty’ that leaves women economically disadvantaged. From July 1 next year, the Federal government will pay 12% super on top of the Commonwealth paid parental leave scheme, a key recommendation of the Women’s Economic Equality Taskforce, which advises the government. It is expected to benefit 180,000 families.

Paid parental leave (PPL) will increase from 20 toby July 1, 2026. PPL is paid at the minimum wage, currently $882.75 a week.

You’re reading a preview, subscribe to read more.

More from Money Magazine

Money Magazine1 min read
Use Your Tax Cut To Make A 50% Return
Felicity, 36, earns $45,000 a year. She has heard about the government topping up her superannuation if she makes a personal after-tax contribution. Given Felicity earns more than the lower threshold of $43,445 in the current tax year, the maximum go
Money Magazine1 min read
HOLD Amazon (NASDAQ: AMZN)
Amazon’s cloud business is an investor’s dream. Switching providers is more complicated than heart surgery and leaves customers beautifully stuck. The oligopolistic industry structure grants substantial pricing power, with would-be competitors requir
Money Magazine2 min read
Have Fun While You Can: There's Not Much Point In Dying Rich
Q My partner is 63 and no longer works due to injury. I am 62 and work full-time earning $110,000pa, with about $18,000 of my income salary packaged for everyday expenses. We each have $300,000 in superannuation and between us about $500,000 sitting

Related Books & Audiobooks