Swan attack – freeze contributions caps and halve co-contributions
In an attempt to protect the 2012/2013 Federal Budget surplus which was promised after the Global Financial Crisis savaged world economies, and then re-promised in the May 2011 Budget, Federal Treasurer Wayne Swan has tinkered with the super rules, yet again.
THE SOAPBOX: Sneaky sneaky – no indexation in co-contribution income threshold for 2 years
Although superannuation savers have generally done well from the Federal Government’s Henry Tax Review announcements, and the May 2010 Budget, hidden away in the detail of the Budget announcements is a shocker.
Federal Budget May 2010: A quick summary
On 2 May 2010, Federal Treasurer effectively released a mini-budget (in response to the Henry Tax Review) announcing the following changes; Increase in Superannuation Guarantee(SG) from 9% to 12%; Tax refund in the form of a Government super contribution to lower-income earners…
Henry Tax Review: Swan says no, but yes yes to super
Using the Henry Tax Review as a political decoy, the Federal Treasurer, Mr Wayne Swan announced four major changes to the superannuation rules. The super news is a very big deal, because the changes, when legislated, should deliver larger retirement balances to more Australians.
THE SOAPBOX: Does the Government think we’re stupid?
As a budding novelist, I love to read a good work of fiction, and on many levels, that’s an appropriate way to describe this latest Federal Budget – a fiction, or more precisely, an artifice. By treating the Budget as [...]
