The self-funded retiree is a misnomer: InstituteBY JAMIE WILLIAMSON | MONDAY, 6 FEB 2023 12:49PMNew research from The Australia Institute shows the cost to the federal budget of tax concessions is almost on par with the total cost of the Age Pension, with the think tank declaring the 'self-funded retiree' a misnomer. Related News |
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Jason Huljich
JOINT CHIEF EXECUTIVE OFFICER
CENTURIA CAPITAL LIMITED
CENTURIA CAPITAL LIMITED
A single decision can change your life, and that's exactly what Centuria Capital joint chief executive Jason Huljich learned when he came to Australia in the 1990s. Eliza Bavin writes.
"According to the ATO, there's just shy of 900 self-managed superannuation funds producing incomes of $1 million or more."
Why is there this obsession with Self Managed Super Funds?
The issue applies to all superannuation funds, including Defined Benefit Funds.
There should be income tax applicable to earnings above a certain threshold for all superannuation funds. This should be part of total income tac review including: Personal tax, Capital Gain Tax, all Trusts, Company taxand GST.