Tasplan is amongst the first industry superannuation funds in Australia to announce that it supports the principle of income-splitting and is exploring its early implementation.

The affirmation comes hot on the heels of an announcement by Assistant Treasurer Mal Brough that the Federal Government will introduce income splitting from 1 January 2006.

The Government's announcement delivers on a 2004 election promise to allow families to split super contributions between spouses.

Welcoming the announcement, Tasplan General Manager, Neil Cassidy said it made sense to allow couples to exercise greater control over their retirement planning.

“As we understand it, the plan is to enable a member to allocate or split contributions to a spouse's account at the end of a financial year.”

According to Cassidy, Tasplan has already commenced exploring what it needs to do to be ready to accommodate income-splitting from 2006.

“In Tasplan's view the Government's announcement will be of particular benefit to women, low income earners and non-working spouses.” Cassidy said.

?We look forward to reviewing the Government's legislation which was introduced into the House of Representatives this week.?