Tag: wealth management software
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Netwealth and Hub24 Ride SMSF Surge in ASX 200
Investors seeking alternative options in the ASX 200 financials sector are turning their attention to self-managed super funds (SMSFs), which are experiencing significant growth. The total balance of SMSFs recently surpassed $1 trillion, with a notable increase in the number of funds being established, particularly among younger age brackets. The Guru’s Guide to Self-Managed Super…
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Superannuation Sector Sees Modest Growth Despite Mixed Performance
Superannuation returns for the quarter ending March 2025 have shown a mixed performance, with total assets decreasing by 0.8% to $4.1 trillion. Within this, APRA-regulated funds accounted for $2.9 trillion. Despite this decline, superannuation returns saw a modest growth of 5.9% over the past year. A PRACTICAL GUIDE TO AUSTRALIAN SUPERANNUATION: A Plain-English Guide to…
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Government Proposes Superannuation Reforms for Fairer Retirement System
The proposed superannuation reforms by the federal government aim to create a fairer system for Australians during challenging times. These changes include doubling the tax on super balances exceeding $3 million, from 15% to 30%. For most Australians, retiring with a $3 million super balance is merely a dream, with the majority ending their working…
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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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Treasurer Jim Chalmers Stands Firm on Superannuation Tax Plan
In a bold move, Treasurer Jim Chalmers remains resolute in his superannuation plan despite mounting criticism. The planned tax hike on large superannuation nest eggs has sparked controversy, with Chalmers standing firm against demands to adjust the $3 million threshold for the tax increase. The Coalition argues that the government may need to resort to…
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Labor’s Superannuation Tax Plan Sparks Economic Concerns
Labor’s proposed superannuation tax plan, targeting accounts with balances exceeding $3 million, is causing a stir among economists and experts. While initially perceived as a measure aimed at the wealthy, the plan’s implications could extend far beyond that demographic. The extra 15 per cent tax rate on superannuation earnings, slated to take effect from 1…