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Showing 11 - 20 of 264 results for wealthy

Should wealthy Aussies use super to fund aged care?

ANDREW MCKEAN  |  THURSDAY, 3 AUG 2023
... Australia's ageing population, assistant treasurer Stephen Jones has responded to a new issues paper that suggests requiring wealthy Australians to use part of their superannuation for their personal aged care costs. The paper is expected to be submitted ...

AAC at centre of billionaire insider trading scheme

CHLOE WALKER  |  WEDNESDAY, 26 JUL 2023
... sure thing," US attorney Damian Williams said in a video on social media. "None of this was necessary. Joe Lewis is a wealthy man. But as we allege, he used inside information as a way to compensate his employees, or to shower gifts on his friends and ...

HNW wealth transfer still on the to-do list

CHLOE WALKER  |  SATURDAY, 15 JUL 2023
... Michael Chisholm said despite its importance, it is evident that developing a clear plan remains a huge challenge for wealthy Australians. "Even for the many individuals who recognise the need for a transfer strategy, the obstacle is simply where to ...

Art tops UHNWs shopping lists

CHLOE WALKER  |  THURSDAY, 18 MAY 2023
... to Knight Frank, the rise in art has been driven by the exuberant prices paid for museum quality works of art by ultra-wealthy collectors. Several collections are now worth more than $3.75 billion for their owners, it said. Interestingly, when considering ...

Labor cracks down on unpaid super

ANDREW MCKEAN  |  TUESDAY, 9 MAY 2023
... treasurer Jim Chalmers flagged "modest, but meaningful revenue measures" like tightening superannuation tax concessions for wealthy Australians. The government is moving ahead with slashing the tax concessions available to individuals with a total superannuation ...

Wealth inequality divides Australia: Research

KARREN VERGARA  |  TUESDAY, 2 MAY 2023
... substantial income gaps exist between cities and regional areas. Cities had high degrees of income inequality, with clusters of wealthy households in some areas and low-income households in others. Homeownership is another factor driving inequality. ...

Curbing super tax breaks for the wealthy: Consultation opens

ANDREW MCKEAN  |  MONDAY, 3 APR 2023
The government has opened consultation on its proposal to increase the concessional tax rate for superannuation balances over $3 million. Under the proposal, individuals with super balances over $3 million would see their tax rates on earnings double ...

Inflation erodes retiree savings by 7.5%

KARREN VERGARA  |  TUESDAY, 21 MAR 2023
... couples aged about 65 spent $69,691 on household and day-to-day expenses, while couples living modestly spent $45,106. Wealthy couples aged 85 spent $63,639, while couples living modestly in this age range spent $41,477 in the last year. In hiking the ...

What "wealthy" means to Australians: AMP

ANDREW MCKEAN  |  TUESDAY, 28 FEB 2023
... for pursuing passions and supporting loved ones. According to a report by AMP and demographer Bernard Salt ' What wealthy means to Australians in 2023: An exploration of cultural preferences and change ' there's been a shift in Australians' ...

The self-funded retiree is a misnomer: Institute

JAMIE WILLIAMSON  |  MONDAY, 6 FEB 2023
... Australia, both costing the taxpayer roughly the same amount: those living on the aged pension, and a smaller group of wealthy account holders with lavish tax loopholes." He said that there's no pressure being taken off the budget in terms of providing ...