A lot of the opinions, analysis and “research” reported on this subject are based on two very different views of the objectives of reform and, unless the proponents of change are more open about their fundamental view of society, the debate will continue to be clouded and confused.
A Parliamentary Committee has recommended that Treasury undertake an analysis of the costs and benefits of superannuation tax concessions.
This will give a more balanced picture of the economic benefits of super tax breaks.
An $11,000 cap on concessional contributions, as proposed by the Grattan Institute, would confine superannuation to being merely a substitute for the age pension rather than a vehicle for increasing savings for individuals and the nation.
There seems to be a groundswell of opinion that a modified version of Dr Henry’s proposal for super taxation could work well.
Today’s ‘myth busting’ report by Deloitte Access Economics helps to put the debate about superannuation tax concessions in proper context.
The Government has made the right policy decisions on superannuation in response to the Financial System Inquiry.
Today’s meeting between the Prime Minister and business, unions and community groups has put the taxation of superannuation back on the agenda.
The Chairman of the SMSF Owners’ Alliance, Bruce Foy, has announced the formation of an SMSF Policy Advisory Council to offer strategic advice to the Board
on how best to carry out its mission to promote and protect the interests of Australia’s one million SMSF owners.
SMSF Owners does not support proposals for new taxes on superannuation. We believe that the taxing of superannuation should be reformed to deliver a simpler, fairer and more effective retirement savings system. More tax on super is not the answer.
SMSF Owners says superannuation is working better than many of its critics claim, but there is room to improve its effectiveness. This is contrary to some critics of super who want to tax it more, risk killing off the incentive to save and leading to more Australia ns having to retire on the Age Pension 100% of which is paid for by the Government from taxes
In his Budget response this week, the Shadow Treasurer claimed that the cost to the budget of superannuation tax incentives will equal the cost of the Age Pension in 2018-19. Not so. The Shadow Treasurer claimed that the cost of superannuation tax incentives will rise to $50 billionto justify Labor’ proposed new tax on superannuation earnings.
SMSF Owners Alliance applauds ASIC crack-down on unlicensed investment promoters. It is good to see ASIC taking action in the courts to crack down on unlicensed advice to self-managed superannuation funds.
Tonigh’s Budget: A step in the right direction. True to its word, the Government has made no changes to superannuation taxation in this budget. Although there will no doubt be differencesin approach, Labor’s recent commitment to a 5-year moratorium suggested that they also believed thatsuperannuation tax changes should be infrequent.
Rate cut should lead to drop in minimum super pension. The Reserve Bank’s decision today to lower the official cash rate to 2% makes it more pressing for the Government to consider reducing the minimum superannuation pension rates.
Prmature, more tax, more "fiddling", more people will pay ...
Labor's second go at taxing earnings on superannuation funds pre-empts the outcome of the Taxation White Paper which we all hope will lead to a better retirement incomes system.
There are no surprises in today’s report from ASFA that wealthier people have higher superannuation account balances–mostly held in self-managed funds and benefit from larger retirement income streams. But the report does not give a balanced picture and doesn’t help advance an objective tax debate
Today’s tax discussion paper Re:Think gives Australians the chance to engage in a rational conversation about the tax system.
The Charter of Budget Honesty Act 1998 requires the Intergenerational Report to model current Government policy-even if not all such plicies are yet legistaled
Over two years ago we questioned the publication by Treasury of figures which were interpreted, wrongly, as meaning superannuation tax concessions were a $32 billion cost to the Federal Budget. We have since consistently said it is not valid to use the aggregate figure of $32 billion in tax concessions as an estimate of the amount of tax the government would save if there were no tax concessions (on superannuation).
The Treasurer should ignore the chorus of calls for super fund earnings to be taxed in the May budget.
In SMSFOA’s pre-Budget submission for 2015, we urge the Governmentto perseverewithitseffort to reduce spending and not to resortto raising taxes to cover the Budget deficit it inherited from the previous Government.
The new Assistant Treasurer, Josh Frydenberg, is right to focus on the governance of the major APRA-regulated funds