Higher income earners are likely to be most affected by proposed superannuation tax incentive changes in the Budget, according to Centuria Life.
The mooted super tax changes in the upcoming Budget could lead to reduced retirement savings.
This uncertainty means advisers and those planning for retirement are looking for tax effective structures to supplement super, Centuria's general manager, Neil Rogan said.
"It makes sense for people to be looking out for ways to supplement their super as tax effectively as they can. And we're seeing a real resurgence in interest in investment bonds as a result," he said.
"Those on higher incomes may want to consider their options and savings strategies to supplement their super before any changes come into effect."
Centuria said the likely areas in super to be tackled in the budget would be:
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.
Add new comment