Super changes ease political and financial uncertaintyBY MARK SMITH | FRIDAY, 5 APR 2013 12:05PMThe announcement of changes to the superannuation taxation system this morning has ended speculation, allowing savers and voters to focus on the future, the Association of Superannuation Funds of Australia (ASFA) said. |
Editor's Choice
ASX launches first Australian bond and credit index futures
|ASX has launched Australia's first exchange traded bond and credit index futures, giving institutional investors a new way to manage exposure to the domestic fixed income market.
Second bidder emerges for Equity Trustees
|Following TPG Global's initial bid for Equity Trustees' holding company last week, a local investor has joined with an improved offer.
HESTA reduces fees, minimum balance for income stream
|HESTA will reduce administration fees and lower the minimum balance required to start an income stream account from September 30.
AMP North appoints head of strategic growth
|AMP North has appointed Emma Kirk as head of strategic growth, marking her return to the financial services giant after two decades.
Further Reading
Products
Featured Profile

Andrew Gregory
CHIEF ADVICE OFFICER
UNISUPER
UNISUPER
After 25 years, Andrew Gregory remains motivated by the impact financial advice can have on Australians' lives. As UniSuper's chief advice officer, he is not slowing down on any of his current ambitions. Matthew Wai writes.







The Board should immediately show some integrity and resign as they continue to capitulate to political pressure driven by Labor ideology.
Anna Carrabs obviously does not understand super. It is about SAVIng for retirement, not BORROWing for retirement. It was never intended to be a tax dodge for SMSFs to do a bit of negative gearing inside super. The sooner these lurks are closed down the better, maybe then we will have a sustainable system.
A Council of Superannuation Custodians would be home to Unionists and failed Labor Politicians.
Wayne Swan, BS, Vamos and Brogden have never worked as Licenced Advsiers so what would they know?
Income has not been defined to my knowledge. If it is returns within the fund then returns of up to 50% have been easy to achieve in the pastyear. If income means drawdown of pension then the needs of clients vary according to family circumstances such as retirees looking after thechildren of absent parents, or having to pay for health care including Chemo Therapy at $50,000 up to $120,000 per annum.
Lets hope these stupid proposals never sees the light of day!
The proposed tax is payable on the income of the Fund from which the pension is being paid. Fund income is already defined but there are now additional rules in respect of Capital Gains. The balance of $2M has been mentioned but some commentators based on a conservative return of 5% before the tax would apply - but a 20% return would bring the balance required down to $500K. Given past adjustments to concessional contribution levels depending on age - $100k to $50K to $25K and now up to $35K without indexation once the Income Template is in place who's to say it won't suffer the same type of adjustments in the future by a simple change to the applicable regs.