This is an extraordinary giveaway budget, driven by desperate circumstances that would have been inconceivable less than a year ago. The debt and deficit numbers are predictably eye-watering – but the gamble is whether they are big enough.
Set out below are all SuperGuide articles that relate to Superannuation news.
Accelerated tax cuts, cash splashes for pensioners, massive incentives for business to invest and a subsidy to hire unemployed people are the centrepieces of the Morrison government’s COVID-19 budget.
The Australian federal budget, unveiled on Tuesday, bases several assumptions on Australians having access to a COVID-19 vaccine in 2021.
The budget is a statement of faith, or hope.
This year’s budget is something of a play in two acts. Act one involves large economic stimulus to help plug the hole in output generated by the coronavirus pandemic. Act two tries to set Australia up for a bounce back in economic growth and employment that involves more than just waiting for the pandemic to end.
After two decades equating budget surpluses with good economic management, it might seem convenient that the federal government has changed its fiscal strategy just before the budget to focus on jobs over keeping the deficit in check.
It’s easy to get the impression the massive government spending and deficits and debt required by the pandemic are new. Yet for almost all of the years since Federation the Commonwealth budget has been in deficit.
The Federal Government’s updated economic outlook released last night includes a much more upbeat forecast for economic growth in 2021 than its earlier economic and fiscal update released in July.
Early release super scheme hurts the young and low paid, ‘Herstory’ of superannuation, Confusion about ESG and super caps and Increased appetite for financial advice.
Tracey Spicer talks to Senator Jane Hume, Assistant Minister for Superannuation, Financial Services and Financial Technology about recent and upcoming superannuation changes including the early release of super scheme, the proposed rise to the superannuation guarantee, what can be done to improve super outcomes for women and the outstanding recommendations from the Royal Commission.
No September rise for Age Pension?, Premiums up in smoke, Call to open infrastructure investment to all super funds, High risk for managed funds, Seniors demand more help at home, Pensioners charged double, Australia ranked 3rd best in world’s top pension plans.
Ross Clare from ASFA talks to Tracey Spicer about how the pandemic has impacted superannuation and the broader economy.
ATO clamping down on false claims, AFCA’s 80,000 complaints, MySuper Heatmap delivers for members, Robo-advice lagging in Australia, Australians pay closer attention to super.
Accelerating Australia’s economic recovery, More financial advice sought, ACCR examines voting records, Streamlined support for SMSFs, ATO’s mailout bungle, Investment funds on notice.
Access to early super resumes, ASIC defers mortgage broker reforms, Royal Commission calls for submissions on COVID-19, ASIC warns against day trading, SMSF annual returns deferred, Older Australians see silver lining.