POWERED BY MOMENTUM MEDIA
Hume promises no adverse changes to super
Senator Jane Hume has confirmed there will be no adverse changes to superannuation contribution limits or the Government’s contribution flexibility measures.
Hume was contacted by Geoff Wilson, founder of Wilson Asset Management, who wrote a letter to both parties to confirm there would be no changes to super.
In her response on behalf of the Government, Hume said there would be no new or increased taxes on superannuation. There would also be no adverse changes to contribution limits, and no changes to the government's contribution flexibility measures.
There would also not be any adverse changes to:
- The flexibility measures for superannuation contributions that have been implemented, including the carry-forward or catch-up contributions, which disproportionately benefit women who are more likely to have broken work patterns;
- The "work test" arrangements, which the Liberal National Party recently legislated to remove for those up to age 75 making personal superannuation contribution;
- The downsizing contribution rules, whereby the Liberal National Party announced yesterday an extension to those aged 55 and over; or,
- The Division 293 tax threshold.
Wilson said he was still waiting for a response from the Australian Labor Party.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
