Abbott reiterates super tax promise
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."
Recommended for you
Australia’s largest super funds have deepened private markets exposure, scaled internal investment capability, and balanced liquidity as competition and consolidation intensify.
The ATO has revealed nearly $19 billion in lost and unclaimed super, urging over 7 million Australians to reclaim their savings.
The industry super fund has launched a new digital experience designed to make retirement preparation simpler and more personalised for its members.
A hold in the cash rate during the upcoming November monetary policy meeting appears to now be a certainty off the back of skyrocketing inflation during the September quarter.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
