superannuation

Super…In – Out – Shake it all about!
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Following extensive consultation, the Government has released an amended superannuation package.  Some measures remain largely unchanged while others such as the lifetime $500,000 non-concessional cap and the removal of the work test for over 65s have been replaced or scrapped altogether. Once legislated, most measures will take effect from 1 July 2017. There are still…

The government shouldn’t use super to help low-income savers
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Super is the wrong tool to provide an adequate support in retirement for low-income earners, our research shows top-up measures to help this group are poorly targeted and too expensive, writes… John Daley, Grattan Institute; Brendan Coates, Grattan Institute, and William Young, Grattan Institute Compulsory superannuation payments help many middle-income earners to save more for…

A small difference in fees could reduce your super balance by 70%
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I realise that most people pay very little attention to their superannuation. But please, can I ask for a few minutes of your time to communicate this simple message which will probably save you over well over $100,000. And let’s not forget that 9.5% of your income is going into super, which is a lot…

New Grattan research shows what is at stake in the superannuation debate
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Both the government and opposition’s proposed reforms to the superannuation system will target generous tax breaks given mostly to wealthy retirees, writes… John Daley, Grattan Institute; Brendan Coates, Grattan Institute, and William Young, Grattan Institute The Federal Government’s plan to wind back superannuation tax breaks would create a fairer superannuation system more aligned to its…

Wealth inequality shows superannuation changes are overdue
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Superannuation changes are sorely needed because recent data shows only a small number of wealthy Australians are accumulating wealth through it, writes… Helen Hodgson, Curtin University The government is still consulting on superannuation after concerns raised by backbenchers over changes made in the budget.  However these changes are more important than ever, as evidenced by…

Half of all Baby Boomers aren’t prepared for retirement
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1 in 2 Baby Boomers aren’t prepared for retirement! According to data from RaboDirect’s 2014 Financial Health Barometer the worrying reality is that more than half of Aussie Baby Boomers currently believe they’ll run out of money and need the aged pension, while many others will have to significantly scale back their lifestyle. Retirement plans The survey asked participants…

Super not so super after all for women over 50
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Modelling the proposed superannuation policies on gender has revealed unintended consequences, says… Robert Tanton, University of Canberra and Jinjing Li, University of Canberra Superannuation changes proposed in the latest Federal budget will affect women aged 50 – 64 more than males, new research using NATSEM’s tax/transfer micr osimulation model has found. The superannuation change that…

Baby Boomers - spend your kids' inheritance
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Scott Morrison has told retirees who have accumulated a big super balance to spend their cash, not pass it onto their children. In an interview with the Australian Financial Review, Morrison made a point he believes many have forgotten in the current debate about his changes to pension entitlements. Reacting to analysis which suggests his…

Mythbusting Tax Reform - Negative Gearing Is Not Evil plus more [infographic]
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It keeps rearing its ugly head doesn’t it? Negative gearing that is. Well it’s not really evil and shouldn’t be removed according to Deloitte Access Economics  “Mythbusting Tax Reform” report. The report looks at superannuation incentives, negative gearing and the discount on capital gains tax. Deloitte has defended negative gearing as being no different to the other…