The existence of a formal objective for superannuation would provide a “true north,” says the Treasurer.
Jim Chalmers flagged major changes to superannuation during a speech to the financial services industry on Monday.
Mr Chalmers said the Coalition’s approach to super had moved Australia “further away” from better living standards in retirement. “Legislating super’s objective will change that because for the first time, we will have a true north, a shared goal that we can work towards together,” he said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Labor’s fight to ‘preserve’: Chalmers to restrict early super accessSwitzer Report Founder Peter Switzer says Labor will argue the word “preserve” to justify Treasurer Jim Chalmer’s proposal to tighten restrictions on superannuation access. “I think industry super funds really hated the fact that people could draw money out of super during the pandemic,” Mr Switzer told Sky News Australia. “I think it was about $36 billion dollars which was taken out by three million people.” Mr Switzer said if people can access their super early it means they are on the pension early. “Which of course becomes a budget and tax issue for the Treasurer so you can see why he’s interested in making a few changes.”
Read more »
Chalmers to slam the door shut on early access to superJim Chalmers will propose slamming the door shut on early access to retirement savings when he unveils Labor’s long-awaited objective for superannuation on Monday.
Read more »
Treasurer to call for crackdown on early super accessThe future of the country's superannuation system is up for debate, as the Treasurer looks to stop Australians raiding their accounts before they retire. ElizaEdNews 9News MORE:
Read more »
Chalmers to propose tighter superannuation restrictionsTreasurer Jim Chalmers will deliver a speech on Monday to flag Labor’s intention to introduce legislation which defines an objective for superannuation – making it harder for Australians to dip into their retirement savings early before retiring. The proposal will have a consultation period until the end of March as the government is also predicted to address large individual super balances.
Read more »
Treasurers’ pledge to ‘end the super wars’ likely to fuel fears of tax concession crackdownTreasurer proposes to enshrine in law a new definition of super to guide future policy decisions
Read more »
Christian Atsu’s faith and good deeds touched countless lives beyond football | Louise TaylorThe former Newcastle player, who has died aged 31 in Turkey, was a true Christian in every sense of the word
Read more »