Prime Minister, Tony Abbott, has forcefully reiterated the Government's pre-election commitment that it will be making no adverse changes to superannuation amid reports his Government was considering changes to the super tax regime ahead of the May Budget.
Newspaper reports said that a Freedom of Information process had uncovered Treasury documents which suggested the Government considered changes to the superannuation tax concessions ahead of the Budget.
Those same reports suggested the Government only opted for no change to the super tax regime after the Federal Opposition had outlined a change policy.
When asked to comment on the issue, the Prime Minister referenced his party's pre-election position.
"We have made a very clear decision that we aren't ever going to increase the taxes on super, we aren't ever going to increase the restrictions on super because super belongs to the people," he told reporters.
"It's your money. It's not a piggy bank to be raided by government whenever it's short and that's the trouble with Labor. Labor always treats your money as their cash reserve."
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
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