Tag: retirement savings book
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Debate Over Taxing Wealthy Superannuants Sparks Controversy and Concern
The federal government’s recent proposal to introduce taxes on wealthy superannuants has stirred up a wave of criticism, even drawing disapproval from key figures like Former Labor Prime Minister Paul Keating, who was instrumental in establishing Australia’s compulsory superannuation system. This move has sparked debates over the implications and fairness of the proposed tax changes.…
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Superannuation in Australia Surges with $4.2 Trillion Investments
Superannuation in Australia has grown significantly, with the country now holding the fifth-largest pool of retirement savings globally. As of December 2024, the total investment in super reached $4.2 trillion, marking an 11.5% increase in just a year. This growth is attributed to rising compulsory employer contributions and a surge in wages. The two largest…