The Federal Government has today announced further proposed changes to superannuation. It is important to note that the changes announced will not be introduced into Parliament before the Federal Election (scheduled for 14 September, 2013) but will form part of the Labor Party’s election platform. Summary of Announcements Tax on pension income from super Investment
New July 2012 Super & Redundancy Thresholds From 1 July, 2012 the superannuation and bona fide redundancy thresholds that apply for the 2012-2013 tax year are: [fusion_old_table id=4 /] Marginal Income Tax Rates for Residents From 1 July, 2012 Personal Income tax rates from 1 July, 2012 will change to become: [fusion_old_table id=5 /] Above
An illuminating article in the Australian Financial Review (23/7/11) talks about how the big banks etc. (and the financial planners aligned to them) "funnel most of their client's money into their own products". The article points out that: according to Roy Morgan Research, AMP aligned planners are directing more than 80% of their clients' superannuation
A Harvest Special Report. Factors that impact retirement planning for women It is estimated that by 2019, women, on average, will have super investments half that of men*. Data from 2004, showed that 30% of women had no superannuation and that 50% of women had $8,000 or less. To compound this, women tend to live
