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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Tim Van Klaveren
HEAD OF AUSTRALIAN FIXED INCOME
UBS ASSET MANAGEMENT (AUSTRALIA) LTD
UBS ASSET MANAGEMENT (AUSTRALIA) LTD
UBS Asset Management's Tim Van Klaveren learned early in his career the value of formulating his own opinions and not following the crowd, Andrew McKean 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.