Tag: tax-efficient investment options
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Superannuation Council Urges Government for Enhanced Low-Income Tax Offset
The Superannuation Members Council (SMC) has urged the government to allocate a portion of the significant super tax windfall from the Budget to enhance the low-income superannuation tax offset (LISTO). This move aims to prevent many Australians from facing higher taxes on their super compared to their income. The Budget projections reveal an increase in…
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Greens Push for Fair Superannuation Tax Reform in Australia
The Greens have raised concerns about the superannuation system in Australia, claiming it has evolved into a taxpayer-funded mechanism for wealth accumulation rather than a means for providing a secure retirement for workers. The party is taking a firm stance on negotiations regarding Labor’s proposal to increase taxes on superannuation accounts exceeding $3 million. Treasurer…