News : Superannuation

Legislation, Retirement, Superannuation

Bills highlight unfair super treatment

superannuation retirement income objective legislation

Superannuation is unfairly treated in the wider retirement income landscape, with recent draft bills highlighting governments regard it as an easy target.

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Regulation, SMSFA, Superannuation

Objective needs clarification

Objective of superannuation

The proposed objective of superannuation requires a more precise definition due to the presence of vague terms in the statement.

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Pensions, SMSF, Superannuation

SMSFs lead pension transition

pension phase SMSF APRA funds Class

Far more SMSF members over 65 are in pension phase compared to APRA-regulated fund members, highlighting the different levels of engagement in the two sectors.

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SMSF, Strategy, Superannuation, Tax

Earnings tax creating capital gains confusion

$3 million earnings tax capital gains

The inclusion of unrealised gains within the proposed $3 million earnings tax is confusing superannuation fund members.

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Superannuation

Objective’s force is in its terms

objective superannuation enforceable terms

The proposed objective of superannuation has no enforceable provisions, but its key terms could still be used by governments to push for changes in the system.

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Regulation, Residential Property, Superannuation

Parliament approves FHSSS changes

First home super saver scheme

Parliament has approved a bill introducing multiple changes to the First Home Super Saver Scheme.

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Aged Care, Superannuation

ASFA rejects aged-care ring-fencing

ASFA Aged care superannuation

The notion of ring-fencing a segment of an individual’s retirement savings to fund aged care has not been supported by ASFA.

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Aged Care, Superannuation

Using super to fund aged care dangerous

Aged care

Any proposal to use superannuation savings to fund aged-care costs would run counter to the purposes for which the system was established.

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LRBA, SMSF, Superannuation, Tax

LRBA TSB treatment a soft cap issue

$3 million soft cap LRBA apportioning

The apportioning of LRBA liabilities remaining to be paid to the total super balance of SMSF members is another $3 million soft cap issue.

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SMSF, Superannuation

SMSFs lead in satisfaction ratings

Roy Morgan Superannuation satisfaction

The level of contentment of SMSF fund members with their choice of superannuation vehicle continues to remain high despite an overall decline in super satisfaction.

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