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Primacy remains with super, says Vamos
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| Pauline Vamos
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The Government’s decision to deliver tax savings on deposits, but at a less attractive rate than applies to superannuation funds, has been welcomed by the Association of Superannuation Funds of Australia (ASFA).
Commenting on the Federal Budget, ASFA chief executive Pauline Vamos said that the concessional tax treatment offered to bank accounts and other savings was at a less attractive level than that applied to super.
“Superannuation funds justifiably retain their tax-prepared status when compared to other savings vehicles,” she said.
Vamos said that superannuation was the only vehicle that could ensure preservation of savings until they were really needed.
“Getting the tax treatment of non-superannuation savings is important, but even more important is having the right incentives and support for superannuation,” she said.
AUTHOR
Mike Taylor
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