A few weeks ago Peter Cramer, Kerry Schultz & I were speakers at a Superannuation Seminar we ran for approximately 100 clients. One topic of discussion was the Government’s attitude to superannuation taxes.
Currently there is mass confusion being generated in the superannuation arena by our politicians due to the dire predicament of the nation’s finances. In short, there is a massive amount of money in superannuation, the Government has no money (and is losing it by the day) so it is obvious that superannuation could be an easy target for tax reform.
There have been all sorts of ideas quoted in the financial media over the last 3 months about how superannuation may be attacked. They include the following:
Our advice for superannuation investors is to take a deep breath and deal with the TRUTH! The TRUTH is as follows:
So what should you do? – DON’T PANIC! If you are reading the papers and something concerns you –ring us and hopefully we can clarify what the situation. Superannuation will feature strongly in the media over the next few months as there will be a budget announcement soon, a budget response from the opposition and then the “fun” of a September election and the associated policy announcements.
Green Taylor Partners will keep you updated along the way as well as looking to highlight to you any planning opportunities which may be available.