Financial System Inquiry – SMSF borrowing ban, better financial advisers, franked dividends, higher super taxes
Today, the government released the Financial System Inquiry Final Report making 44 recommendations to improve the Australian financial system. The 320-page document contains some super surprises, including a ban on SMSF borrowing, strong support for higher super taxes and a push to remove franking credits from Australian dividends. Click on the link below for a summary of the recommendations affecting your super, retirement and tax plans.
We will explore some of the FSI recommendations (including the tax proposals) in more detail in our December 2014 newsletter, along with more immediate super topics (delivered to your email boxes later this month).
This article focuses on the FSI recommendations that relate to superannuation, retirement, financial advice and tax. For context however, I have included some of the big-picture philosophy underpinning the FSI Final Report. For the broader recommendations, you can access the full FSI Final Report by clicking on the link at the end of the article. Read more
Thanks again for your interest and support.