Author: Recruitment Super
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Report Unveils Key Strategies for Superannuation Success in 2025
Superannuation is a vital component of Australia’s retirement system, pivotal for economic stability and ensuring retirees’ financial independence. The landscape of superannuation is ever-changing, with ongoing consolidation poised to transform the market significantly. The “Shaping Super 2025” report serves as a compass for navigating this evolving terrain, shedding light on the maturity of the superannuation…
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Superannuation Contribution Caps to Increase, Benefit Older Workers
Superannuation contribution caps are set to increase for the first time in three years, thanks to robust wages growth data released by the Australian Bureau of Statistics. These caps, which govern both concessional and non-concessional contributions, are tied to wages growth and are periodically adjusted. Come July 1, the concessional contribution cap will climb from…
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Government’s Superannuation Reforms Enhance Australia’s Retirement System
The government’s superannuation reforms, implemented through legislation passed in November 2016, aim to enhance the fairness, sustainability, flexibility, and integrity of Australia’s superannuation system. These reforms were a response to the changing demographic landscape and fiscal pressures facing the nation. The reforms, announced in the 2016-17 Budget, were refined through a public consultation process that…
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Chalmers Stresses Fairness in Superannuation Tax for Retirees
During a recent economic reform roundtable in Canberra, Treasurer Jim Chalmers emphasized the importance of providing concessional treatment to retirees on their superannuation balances. Despite growing calls for tax system changes, Chalmers highlighted the need to maintain fairness for younger generations in any tax reform discussions. A PRACTICAL GUIDE TO AUSTRALIAN SUPERANNUATION: A Plain-English Guide…
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Political Honesty Challenges Tax Reforms and Superannuation Sustainability
Radical honesty in politics is a rare and welcome occurrence. This week, a senior Liberal member criticized the government’s proposed Freedom of Information reforms during a party room meeting. The changes, including application fees and document release restrictions, have faced opposition, with accusations of secrecy leveled against Labor. How Democracies Die: The International Bestseller: What…
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Outdated Superannuation Rule Costs Low-Income Workers $500 Million
An outdated superannuation rule in Australia is causing concern among low-income workers, potentially resulting in a collective loss of $500 million in savings this year, according to the Super Members Council (SMC). HOW TO CREATE A RETIREMENT SAVINGS PLAN: Achieve Financial Security for Your Golden Years | $27.68 The Low-Income Superannuation Tax Offset (LISTO) was…
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New Tax Targets Wealthiest Super Accounts in Australia by 2025
Superannuation changes set for 2025 are causing a stir, particularly the introduction of a new tax targeting the wealthiest super accounts in Australia. While the adjustments are slated to take effect on July 1, there is a wave of misinformation circulating, muddying the waters between fact and fiction. A Richer Retirement: Supercharging the 4% Rule…
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ASIC Investigates $1 Billion Superannuation Collapse Fallout in Australia
Investors in Australia’s superannuation system are reeling from the collapse of First Guardian and Shield, which has left over 12,000 people facing losses exceeding $1 billion. The allure of high returns drew many retirees, like Mel Wohlers, who contemplated drastic measures after losing almost $370,000. The regulatory response, led by ASIC, has been criticized for…