Age pension changes to hit average income earners hardest

2015/16 Budget age pension changes, average income earners, retirement, industry super australiaChanges to the age pension announced in the 2015/16 Federal Budget will hit hardest those on average incomes or less, according to new analysis.

Industry Super Australia says the analysis shows the impact of the proposed age pension changes will “fall on those earning average incomes or below” with “many estimated to lose more than $100,000 over their entire retirement period.”

2015 Budget leaves superannuation largely alone

Federal Budget 2015/16, superannuation, SMSFThe Prime Minister said the 2015 Budget would be “pretty dull,” and it has met this promise, at least from a superannuation perspective, though there are some changes.

In the budget speech Treasurer Joe Hockey said “I want to reassure all Australian workers they can have confidence in their retirement plans.”

What superannuation changes to expect in the 2015 Budget

Federal Budget 2015/16, superannuation, SMSF

Update: Our 2015 Budget superannuation summary – 2015 Budget leaves superannuation largely alone.

What changes to superannuation should we expect in the 2015 Federal Budget?

From a superannuation perspective the 2014 budget was relatively uneventful, at least compared to some previous budgets, with the only changes relating to the superannuation guarantee and allowing refunding of excess non-concessional contributions.

2015 Federal Budget live blog: Superannuation & SMSFs

The 2015 Federal Budget will be released at 7.30pm AEST on Tuesday the 12th of May. We will cover the speech, and the budget papers, with a particular focus on changes to superannuation and SMSFs.

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With that we’ll call it a night and leave the ongoing coverage to the ABC.

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Our summary of the superannuation changes in the 2015 Budget: 2015 Budget leaves superannuation largely alone.

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There is a lot in any Budget, even one which is so comprehensibly pre-announced. Some of the Budget summaries include: Read more...

Liberal party pre-election superannuation promises

Liberal Party promises superannuation, no adverse, expected changesWith the 2015/16 federal budget approaching, what did the Liberal Party promise prior to the last election in regards to superannuation?

In a doorstop interview in 2013 Tony Abbott said, “the commitment that I give is that there will be no unexpected adverse changes to superannuation under a Coalition government.”

The document The Coalition’s Policy for Superannuation, published in September 2013, says:

The Coalition makes this pledge: we will not make any unexpected detrimental changes to superannuation. Read more...

Don’t change superannuation in 2015/16 budget, says CPA

Federal Budget 2015/16, superannuation, SMSFCPA Australia has called on the Government to not make any changes to superannuation in the upcoming 2015/16 Federal Budget.

“There should be no short-term or piecemeal superannuation changes introduced in the 2015-16 Budget to ensure the White Paper process is allowed to run its course,” says the CPA pre-budget submission.

Financial advice should be fully tax deductible, says IPA

financial advice, tax deductible, IPA, budget 2015/16The Institute of Public Accountants (IPA) has called for financial advice to be fully tax deductible, up to a capped limit, to improve retirement planning.

“The Intergenerational Report concludes that there will only be 2.7 working Australians to support every Australian over the age of 65 by 2055. Competent and affordable financial advice will be an essential ingredient in paving the way to sustainable retirement incomes and to help alleviate over-reliance on government funded pensions,” said IPA CEO Andrew Conway. Read more...