Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 41 - 50 of 287 results for "Tax concessions"

Super a big national advantage: Chalmers

CASSANDRA BALDINI  |  TUESDAY, 21 MAR 2023
... government has opened its consultation and welcomes industry feedback. "Secondly, we want to try and make the tax concessions in superannuation a bit more sustainable, not by eliminating those tax concessions, but by making them a little bit less generous ...

Chalmers' promise to end super wars foiled by criticism

ANDREW MCKEAN  |  THURSDAY, 2 MAR 2023
... issue the government is grappling with is not the presence of large balances in the super system, but rather the tax concessions that these balances attract." As previously reported by Financial Standard, the government has proposed a new policy to reduce ...

Super tax break crackdown to hit $410bn in savings

ANDREW MCKEAN  |  WEDNESDAY, 1 MAR 2023
... fairness of the proposed policy, one crucial detail seems to have been overlooked: the $3 million cap on super fund tax concessions is a throwback to the Reasonable Benefits Limits (RBLs) of the past. While industry bodies have been vocal about the potential ...

Government to double tax for high super balances

ANDREW MCKEAN  |  TUESDAY, 28 FEB 2023
... with the top 10% receiving 39% of the total benefits. Treasurer Jim Chalmers said: "Before long the cost of these tax concessions will be more than the cost of the aged pension itself and we want to make sure it's sustainable." The tax break reform ...

Australia leads the way in pension system sustainability: ASFA

ANDREW MCKEAN  |  THURSDAY, 23 FEB 2023
... that the sustainability of Australia's retirement income system is supported by several factors, not just tax concessions. The sustainability of Australia's retirement income system is supported by it having a higher retirement age compared to ...

The self-funded retiree is a misnomer: Institute

JAMIE WILLIAMSON  |  MONDAY, 6 FEB 2023
New 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. According to the insights ...

Stop penalising women: HESTA

CASSANDRA BALDINI  |  WEDNESDAY, 1 FEB 2023
... low and middle incomes." It further added other key recommendations to reform superannuation settings are around tax concessions. It explained due to super being taxed at 15%, lower income earners in the bottom brackets are hit harder on super than wages ...

Treasury working on QAR, super tax concessions

CASSANDRA BALDINI  |  THURSDAY, 19 JAN 2023
... of the Quality of Advice Review (QAR) final report, while also confirming the government has not scrapped super tax concessions. A spokesperson for minister for financial services Stephen Jones said the final report from the QAR will be released in the ...

Super heads support capping retirement balances

ANDREW MCKEAN  |  THURSDAY, 10 NOV 2022
At the Australian Financial Review (AFR) Super and Wealth Summit, super fund chiefs agreed that the tax concessions on bloated retirement savings accounts should be trimmed. The panel on the strategic directions for super consisted of Mercer Australia ...

Government eyes crackdown on super tax concessions

CASSANDRA BALDINI  |  TUESDAY, 8 NOV 2022
... taxation of funds like these has a real cost to the Budget and needs to be considered. "Mercer estimates that the tax concessions on a single $10 million SMSF could support 3.1 full Age Pensions," he said. He commented that multiple industry voices are ...