A Liberal senator has warned that Labor’s planned taxes on high superannuation balances could eventually impact over 500,000 Australians—a number impacting six times more individuals than what the government has claimed. Prime Minister Anthony Albanese this week unveiled his plan to double taxes on super accounts with more than $3 million (US$2.03 million) from 15…
Labor’s $3 Million Super Threshold Could Affect Over 500,000 Australians: Liberal Senator
Retirement Funds to Benefit From Increasing Contributions in New Financial Year
Compulsory superannuation contributions will increase from 10 percent to 10.5 percent for Australian workers in the new financial year. The increases will continue until reaching 12 percent in 2025, boosting the already vast retirement fund industry that now controls around $3 trillion (US$2.05 trillion) in funds—the fourth largest pension fund in the world. For some…
ABC Complaints Inquiry: The Taxpayer Funded Organisation Is Not Beyond Public Scrutiny
Commentary On Sunday, ABC Chair Ita Buttrose released a blistering statement in response to New South Wales, Senator Andrew Bragg, setting up a senate inquiry to review the ABC complaints process. The complaints process for the ABC has been scandal ridden, with months of intense criticism, including over the handling of editorial failings of the…
Taxpayer Funded ABC Not Beyond Public Scrutiny
Commentary On Sunday, the Australian Broadcasting Corporation’s (ABC) Chair Ita Buttrose released a blistering statement in response to New South Wales Senator Andrew Bragg, setting up a senate inquiry to review the ABC complaints process. The complaints process for the ABC has been scandal ridden, with months of intense criticism, including over the handling of…
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