Author: Recruitment Super
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Amanda Rishworth Appointed Minister for Employment: Promoting Inclusivity
The Hon Amanda Rishworth MP has been appointed as the new Minister for Employment and Workplace Relations, expressing gratitude to the Prime Minister for the opportunity to serve in the Albanese Labor Cabinet. Rishworth highlighted the significant contributions of her predecessors, Ministers Burke and Watt, in the first term of the Government. Careless State: Reforming…
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Analysis Forecasts Young Australians Could Retire with $3 Million in Superannuation
Recent modelling suggests that young Australians could potentially retire with a substantial $3 million in their superannuation accounts, painting a picture of retirement wealth previously unseen. This projection comes in the wake of political developments, with Labor’s victory in the election paving the way for potential changes in superannuation tax policies. HOW TO CREATE A…
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Michael Milken Commits $4 Billion to Revolutionize US Children’s Financial Future
Michael Milken, the billionaire philanthropist and former junk bond king, found inspiration for a new venture during a taxi ride in Australia. The encounter with an Australian cabbie led Milken to pledge a super scheme for children in the United States, committing a substantial sum of $US4 billion towards this initiative. Financial Literacy for Children…
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How Proposed Superannuation Tax Impacts Farmers’ Retirement Planning
TasFarmers has issued a stern caution against the Federal Government’s proposal to tax unrealised capital gains on superannuation balances, denouncing it as “legalised theft” with far-reaching consequences for intergenerational farming, investment confidence, and the retirement savings of Australians. The Unknown Financial Guru’s Retirement Income Planning Guide | $0.00 With the economic landscape becoming more challenging…
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How Labor’s Superannuation Plan Sparks Election Debate and Tax Reform
Labor is facing a last-minute challenge as the federal election approaches, with Prime Minister Anthony Albanese moving to address concerns over proposed changes to superannuation funds. The $2.3 billion impact on taxpayers has sparked a heated debate, fueled by Opposition Leader Peter Dutton’s characterization of the plan as an “inheritance tax.” Tax for Australians For…
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Understanding Superannuation Tax Plan Impacts on High-Net-Worth Individuals
Treasurer Jim Chalmers has responded to the backlash from corporate leaders regarding the Labor government’s proposal to impose a tax on unrealised capital gains, particularly focusing on superannuation balances exceeding $3 million. The contentious plan has stirred up a heated debate within the business community, with prominent figures like Karl Morris and Brian McNamee expressing…
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Australian Superannuation Funds Hacked, $500k Lost, Data Compromised: ASFA
Hackers targeted Australian superannuation funds, resulting in a data breach that saw a small number of customers losing a combined $500,000 and compromising members’ data, according to the industry’s peak body. The Association of Superannuation Funds of Australia (ASFA) stated that hackers attempted to breach the cyber defenses of several superannuation funds over the weekend.…
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HESTA Freezes Services, Impacting Over a Million Members Until June
Superannuation fund HESTA has announced a freeze on its services in a planned outage, impacting over a million members who will be unable to access their funds until June. The move is part of the fund’s transition to a new administration provider, a process that began in February. While HESTA has provided information about the…
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Market Turmoil Sparks Retirement Uncertainty for Australian Seniors
Norma Lancaster, a business analyst in Melbourne, had been contemplating retirement after a 40-year career. However, the recent market turmoil has forced her to reconsider her plans. At 63 years old, Norma is now uncertain about affording retirement due to the impact on her superannuation. How to Retire Early With Low Savings: The Best Retirement…