Federal Budget 2015/16

Superannuation and SMSF changes in the 2015/16 Australian Federal Budget.

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.”

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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.

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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.

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