Media Releases

2015

151214 - Lets call a spade a hammer and sickle - SMSF Owners comment on Grattans views on-taxing super

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.

151203 - Need for a more balanced view of superannuation tax concessions

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.

151125 - How to destroy superannuation - ask Grattan

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.

151110 - Equal_super_tax concessions for all can work

There seems to be a groundswell of opinion that a modified version of Dr Henry’s proposal for super taxation could work well.

151026 - Cost of super tax myth dispelled

Today’s ‘myth busting’ report by Deloitte Access Economics helps to put the debate about superannuation tax concessions in proper context.

151020 - Government ticks_the right boxes on FSI report

The Government has made the right policy decisions on superannuation in response to the Financial System Inquiry.

51001- SMS Owners Expect PM to Take Thoughful Approach on Super Tax

Today’s meeting between the Prime Minister and business, unions and community groups has put the taxation of superannuation back on the agenda.

180615 - SMSF Owners Form Policy Advisory Council

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.

150614 - More tax on super is not the answer

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.

150604 - Change super for the better - tax it less

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

150522 - Labors case for superannuation tax based on double counting

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.

150514 - SMSF Owners Alliance Applauds ASIC crack-down on unlicensed investment promoters

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.

50512 - Budget a step in the right direction

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.

150505 - Rate cut should lead to drop in minimum super pension

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.

150424 - Ten things wrong with Labors new superannuation earnings tax

Prmature, more tax, more "fiddling", more people will pay ...

150422 - Labor Jumps the Gun on Super Tax

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.

150401 - More sound and fury - signifying nothing!

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

150330 - Time for cool calm thinking on tax

Today’s tax discussion paper Re:Think gives Australians the chance to engage in a rational conversation about the tax system.

50305 - Intergenerational Report sets out stark reality of Australia's budget position

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

150228 - Its Official - Focus on 32 billion cost of superannuation is misleading

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).

150213 - Treasurer needs to take a long term view on taxation of super

The Treasurer should ignore the chorus of calls for super fund earnings to be taxed in the May budget.

150129 - Pre-Budget Submission - Parliament must allow the Government to rein in spending

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.

150118 - Frydenberg on the money

The new Assistant Treasurer, Josh Frydenberg, is right to focus on the governance of the major APRA-regulated funds