Industry calls for bipartisan commitment to rule out taxation of unrealised gains
With the election campaign entering its final stages, a coalition of leading industry associations is calling on the Prime Minister and the Opposition Leader to “immediately and unequivocally rule out any move to tax unrealised investment gains in any part of the tax system.”
Illegal SMSF access a problem, but focus on the bigger super picture
Illegal access to SMSFs by their trustees is one of those issues with a radar signature starting to pulse, but while it must be addressed, it should not overshadow the sector's health.
Super early access for housing would hurt every member’s balance
Opening up early access to super for housing would have a negative effect on the balances of even those members that don’t dig into their savings, with funds forced to adopt more conservative investment strategies and hold more liquid assets.
Term deposit turn has retirees in two minds as private credit gains steam
With many economists expecting the Reserve Bank to start cutting interest rates in early 2025, returns on term deposits could feel the pinch. Private credit is an alternative, but those pursuing this investment option will need to do their homework.
Slashed dividend payments an income gut-punch for SMSF retirees
A slowing economy has prompted S&P/ASX 200 companies to keep a lion’s share of their earnings by tightening shareholder distributions, with fund manager Martin Currie identifying the resources sector as a real cause for concern regarding future income.
The funeral bond alternative providing tax and income advantages to older Australians
Funeral bonds offer a host of potential benefits, including preferential tax treatment and capped exemption from the Centrelink assets test. But not all funeral bonds are created the same.
Governance, representation on the agenda for super funds of the future: Morningstar
Megafunds are set to control trillions in member savings, and a few crucial themes are emerging that will figure in the future direction of the superannuation system.
What advisers should focus on as a new regulatory horizon dawns
Advisers need to be in lockstep with what is an ever-changing slate of priorities for the corporate regulator, and right now that means ticking a particular set of boxes related to consumer protection.
Soaring ETF market needs asset servicing to match its growth
Inefficiencies in the back office and clearing systems that the burgeoning ETF market relies on need to be rooted out, but data shows there may be a disconnect between what providers and consumers believe matters.
Advice in super declines as funds 'stuck' on member engagement: SuperRatings
Super funds are offering less and less advice services, despite members making clear that they need it more than ever. Fund advice has a relatively attractive price point, SuperRatings' Kirby Rappell explained, but funds are struggling to explain its value.
Gargantuan funds and the 'second six': The state of super and what members think about it
KPMG’s latest Super Insights report shows the future shape that the industry might take, with distinct cohorts of funds now emerging across size and service. But there’s little positive sentiment to be found about funds online.
Minister turns back on CSLR as AFCA steps in, looks to cut Dixons membership
It's a welcome stopper on the amount advisers will have to fork out, but has no connection to the core issue. The government still fails to recognise the inherent flaws in its CSLR scheme, and the industry is running out of patience.
Labor risks repeating franking credit calamity with $3M super cap proposal
In the 2019 federal election, Labor’s proposal to abolish cash refunds for excess franking credits went down like a lead balloon. So, will the $3 million cap proposal see Labor revisit history?
Hobbled by hubris, industry funds in danger of failing their members
The meteoric rise of industry funds has earned them a rightful place at the top of the superannuation food chain. But their standing is not a given, and the failures are starting to mount.
More spending guidance during 'Glory Years' required: Wattle Partners
Retirement's approach requires a profound change in how investors approach markets and construct portfolios, including arranging their income needs around three distinct periods of retired life, the financial advice firm's founders said.
Super fees still too high, but change is on the horizon: Research
Superannuation fees can add up to a huge long-term expenditure, costing Australians with modest super balances thousands of dollars a year. But costs may start to fall, with some funds and new players working to disrupt the structure.
Regulators skewer super funds for slow progress on retirement income covenant
A joint review conducted by ASIC and APRA was scathing of funds' collective attempts to meet their new legal obligation to help fund members plan for retirement, and urged them to "address, with urgency, the gaps in their approach".
'Neither simple nor fair': Super stakeholders push back over unrealised gains hurdle
While the move to tax superannuation balances above $3 million at a higher rate would affect only a handful of people at first, if the threshold is not indexed to inflation, future generations may be turned off from investing in their super, industry leaders say.
Super fund satisfaction levels drop as market volatility bites
Australians across the board are less satisfied with their superannuation funds than they were a year ago, a new report from Roy Morgan showed, with share market volatility and industry consolidation acting as major drivers of the decline.
Super's purpose is preservation, not solving other problems: Jones
Speaking at the SMSF Association's National Conference, the assistant treasurer called out "modern-day Edmund Hillarys" seeking to raid Australia's "Mount Everest of superannuation" as he pressed the need for an objective for super that prioritises preservation.
