Super not sacred: Rice WarnerBY HARRISON WORLEY | MONDAY, 25 MAY 2020 12:38PMRice Warner founder Michael Rice has warned the superannuation industry to prepare for the government using the system as a means of repaying its stimulus debt, saying super won't be as sacred as it has been in the past.
Related News |
Editor's Choice
UniSuper selects new group insurer
After more than a decade in business, UniSuper has dropped TAL as its group insurer.
MLC Private Equity launches insto fund
A new private equity fund launched by MLC Private Equity has raised US$762 million ($1.2bn).
Two Brisbane advice firms merge
Brisbane-based financial advice firms Eureka Whittaker Macnaught (EWM) and Blue Harbour Financial Partners, which are part of AZ NGA, have announced their merger.
Powell backflips on rates pushing back RBA cut expectations
This comes as the IMF urges global central banks to remain vigilant to keep inflation down.
Further Reading
Sponsored by | Where do advisers invest their time?The stage 3 tax cuts have sparked discussions on bracket creep. Implementing a tax-effective investment strategy is crucial now more than ever. |
Sponsored by | Quality and Yield. A Powerful combination.With central bank rates seemingly peaked, investors are not awaiting yield increases. We're bucking the trend with investment rates at decadal highs |
Sponsored by | Why it could be a good time to be a growth contrarianGrowth-style companies are in vogue, but you may need to think outside the box to ensure you don't overpay. |
Products
Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
"The obvious way to collect more taxes would be to tax each fund's earnings in the pension phase at the same rate as the accumulation phase, namely 15%. That would increase taxes from the superannuation funds collectively by close to 50%, as well as simplifying the system - you would no longer need a pension transfer balance."
This wouldnt work as the majority of self funded retirees would then be better of cashing out all or part of their Pension phase super funds and holding investments directly, where they have access to the tax free threshold of $18,200.