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Super an election issue
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| Chris Bowen
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The Federal Government has sought to define clear differences between it and the Opposition on lifting the superannuation guarantee, claiming the Opposition Leader, Tony Abbott, has made clear he will oppose any such increase.
The Minister for Financial Services, Chris Bowen, said Abbott was opposed to lifting the guarantee because it would make employers reluctant to employ people — but Bowen said this claim ignored the experience between 1 July 1992 and 30 June 2003, when the guarantee was lifted to 9 per cent.
He said during that time the Australian economy grew strongly, unemployment fell and labour productivity grew.
Bowen pointed to Abbott's book, Battlelines, to suggest the Opposition Leader wanted to tax superannuation contributions at a person's marginal tax rate — something Bowen claimed would result in a major fall in the superannuation lump sum of retirees and a reduction in take-home pay.
AUTHOR
Mike Taylor
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
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2
DomaCom DFS Mortgage
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3
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BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
