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    Policy

    Tax & Super

    Today

    The CFMEU scandal raises obvious questions about how the governance standards of super fund boards could be improved.

    CFMEU scandal should force rethink on super fund boards

    Union-backed industry super funds have pushed hard to lift governance and accountability at public companies. Shouldn’t they want to improve their own governance, too?

    • Updated
    • James Thomson

    Yesterday

    Pension plea: Federal Court Chief Justice Debbie Mortimer.

    Chief justice intervenes in tax plan for judges

    Federal Court Chief Justice Debbie Mortimer has also banned judges using their travel allowance for conferences.

    • Michael Pelly

    This Month

    Queensland will review its housing tax structure.

    Queensland mulls expansion of stamp duty discounts in tax shake-up

    Expanding stamp-duty concessions and overhauling land tax in Queensland will be considered as part of a new tax shake-up.

    • James Hall
    Technology stocks, and global equities more broadly, were crucial to ART’s returns, Andrew Fisher says.

    Super giant seeks tech stock ‘second wave’ after delivering 11.3pc

    Rising tech stocks helped land an 11.3 per cent return for Australian Retirement Trust superannuation members, but unlisted property was still a drag.

    • Hannah Wootton

    June

    When he’s challenged over the lack of a fair dinkum plan to fix Australia’s broken taxation system, Treasurer Jim Chalmer’s response is that Labor’s “modest but meaningful” tax changes are doing the job .

    Not so super tax reform

    The controversy over taxing unrealised superannuation gains leaves Labor’s “modest” tax agenda looking like a piecemeal approach to fixing Australia’s broken tax system.

    • The AFR View
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    Suburbs such as Double Bay in Sydney’s inner east have among the highest rates of residents with more than $3 million in super.

    The areas most – and least – hit by Labor’s $3m super tax

    Australians with super balances of more than $3 million are less likely to live in rural areas, according to new analysis, despite concerns about the tax focusing on farmers.

    • Hannah Wootton
    Office tower write downs have sparked ongoing concern from APRA about super funds’ unlisted property valuations.

    Super funds fall short on unlisted asset valuations: APRA

    Super funds are not revaluing their $650 billion unlisted asset portfolios enough, potentially hitting the prices paid by customers and their returns, APRA has warned.

    • Hannah Wootton
    The debate over default pensions will be an important one in the next 12 months.

    Why KKR’s Colonial First State calls default pension plan ‘dangerous’

    Colonial First State chief executive Clive van Horen says the wealth and super giant is back in growth mode. But he’s not shying away from a big super debate. 

    • Updated
    • James Thomson
    Only two out of 10 have super as their main retirement income during their 70s.

    The three types of people most likely to avoid high-end super tax

    A new study shows a quarter of high-income earners tweak their finances to minimise the tax they pay on superannuation, and they are mostly self-employed, trust beneficiaries and women.

    • Updated
    • Hannah Wootton

    May

    Ed Husic and Jim Chalmers: Labor is internally at odds about the need for corporate tax reform.

    Cutting company tax is not the only way to spur investment

    Recognising the cost of equity in the tax system is the equitable, effective and productive way to achieve corporate tax reform.

    • Robert Breunig and Kristen Sobeck
    It is “curious” and “illogical” to consider capping super funds’ ASX holdings, Karen Chester says.

    ‘Radical, illogical’ cap on super ASX stakes would cost savers

    Instead of helping Australians buy ASX shares, a cap as proposed by Andrew Bragg would just help foreign capital own more of the market, industry experts warned.

    • Hannah Wootton
    Super funds may soon be forced to do more to support older members.

    The super funds where customers are retiring faster than new ones join

    The research from KPMG comes as the $3.6 trillion superannuation industry heads towards the point it is paying out more cash than it brings in.

    • Hannah Wootton

    Boomer ‘wave’ of outflows starts to hit super

    Australia’s biggest retail superannuation funds are paying out billions more dollars in cash than they are bringing in as baby boomers reach retirement age.

    • Updated
    • Hannah Wootton
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    Investors to be stung by $250m in new advice fees

    A tax office ruling will see investors pay 7.5 per cent more for advice obtained from super funds and platforms, despite government moves to cut advice costs.

    • Michelle Bowes
    Treasurer Jim Chalmers.

    ‘Super-sized hole’ in budget as Treasury revises tax take

    Treasury has cut $11 billion from its four-year estimates of revenue from superannuation taxes, as “overly large tax concessions” keep benefiting the richest retirees.

    • Hannah Wootton
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    Anthony Watson.

    Lendlease tax whistleblower’s 12-year fight for vindication

    Lendlease’s tax dispute could cost it at least $112m, but whistleblower Anthony Watson has lost his job, battled depression and is about to sell his family home.

    • John Kehoe