The Australian Lawyers Alliance has raised concerns that recently proposed super reforms that tax super assets supporting income streams of more than $100,000-plus will impact the catastrophically disabled and their careers.
According to ALA national president Tony Kerin, the seriously disabled nearly always hold their compensation money in allocated pensions.
ALA called on Government to take measures to exempt these compensation payments from the superannuation tax if it was to proceed, and to review the impact its proposals would have on the seriously injured.
"Every dollar is needed to meet their future care and other costs," Kerin said.
"This new tax will mean they will likely have to go without some of their care and support or that their money will run out before their life expectancy."
The new laws, which are designed to tax Australia's most wealthy to help pay for the incoming National Disability Insurance scheme, would ironically tax Australia's most disabled people, he said.
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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