Australian women are set to be thousands of dollars better off by the time they retire, with the government promising superannuation on paid parental leave in a landmark win for gender equality. After long citing budget restraints, the government will move to help close the gender superannuation gap, announcing parentsContinue Reading
A proposal to double taxes on superannuation funds with hefty balances will snatch about $80,000 from 50,000 Australians with self-managed super funds (SMSFs) and leave some struggling to meet their new payments. A new report from the International Centre for Financial Services found Treasurer Jim Chalmers’ proposal to reduce taxContinue Reading
The biggest company in Australia has come under fire over its $2 million donation in support of the Voice to Parliament, with one prominent law firm accusing it of hypocrisy. BHP — the largest mining company in the world by market capitalisation — handed over the money to support theContinue Reading
The recent ups and downs of the share market have been a wild ride for investors, but also present a huge opportunity. The difference between the best and worst performing super funds is growing, with recent statistics showing the best performing superannuation investments grew by 14.19 per cent over theContinue Reading
Major retailers such as JB Hi-Fi are facing the threat of investors voting against the election of male directors because they have failed to meet expectations that 30 per cent of their board are made up of women. The Australian Council of Superannuation Funds (ACSI), which has spent 10 yearsContinue Reading
Aussies left in “dud” superannuation funds could miss out on up to $230,000 at retirement as a new report reveals some of the worst performing products. Alarmingly, around $10 billion of Australians’ retirement savings are invested in dud superannuation products, the data from the Australian Prudential Regulation Authority (APRA) showed.Continue Reading
Australia’s 15 largest superannuation funds have more than $25 billion invested in companies that are expanding their coal, oil and gas production and the organisations have been criticised for setting up young Aussies for a worse climate future. Nearly a fifth of this amount – $4.66 billion – is investedContinue Reading
A modest change to the way superannuation earnings are taxed has opened the doors to a political firestorm. Opponents have sounded alarm bells about the government’s refusal to index the $3m threshold and confusion over unrealised capital gains. But what does that all mean? And specifically, what does it meanContinue Reading
Have you ever wondered how some people end up with millions in their retirement accounts? Take Gary Belgre, a retiree from North Sydney, for example. At 66 years old, he enjoys a “very comfortable” retirement, thanks to earnings on his superannuation. However, despite his good fortune, Belgre fully supports theContinue Reading
The opposition has accused the Albanese government of walking away from an election promise after the announcement of “modest” changes to the superannuation system. Australians with more than $3 million in their superannuation accounts will have their concessional tax rate doubled from July 1 2025, in a move predicted toContinue Reading