POWERED BY MOMENTUM MEDIA
Time for definitive super policy direction
The Federal Government owes it to every member of an Australian superannuation fund to clearly determine its Budget and policy direction on superannuation as quickly as possible and, in doing so, removing all room for speculation and doubt.
The Treasurer, Scott Morrison last week seemed to make a good start in stabilising the superannuation debate when he addressed the SMSF Association annual conference in Adelaide, only to have his good work undermined over the weekend by speculative news reports and the commentary of the Deputy Prime Minister, Barnaby Joyce.
What Morrison told last week's SMSF Association audience was that the Government was examining its options on superannuation policy but, fundamentally, that it wanted to maintain incentives for people to use superannuation as the primary source of the retirement income.
The Treasurer hinted in broad terms at a reorientation of the super tax concessions away from upper income earners and an end to the use of super as an estate planning device.
In doing so, he indicated that the superannuation industry would be engaged in consultation process to ensure appropriate implementation and no unintended consequences.
It ought follow from all of the things said by Morrison about using superannuation to relieve pressure on the age pension that allowing people to opt-out of the system makes little or no sense unless, of course, you are a spruiker for the Australian property industry.
The Government has declared its backing for the Financial System Inquiry recommendation of declaring a "purpose" for superannuation and Morrison has said that purpose should be relieving pressure on the age pension. It is time the Government stopped the speculation and gas-bagging and set about delivering on meeting that purpose.
Recommended for you
High risk, high return assets will become dangerous options for superannuation funds under the Federal Government’s planned $3 million superannuation changes, writes Brad Twentyman.
Economic policy can no longer ignore the macroeconomic impacts of Australia's superannuation system and the emerging policy implications, writes Tim Toohey.
In an age where climate concerns and social consciousness dominate headlines, it’s no surprise that investors are increasingly seeking investments that align with their values, writes Simon O’Connor.
How profit-for-member superannuation funds can embed 'commerciality with a heart' and marry a member-first culture with commercial outcomes.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment