FPA draws up Federal Budget wish list
The Financial Planning Association (FPA) has called for a number of immediate amendments to superannuation and financial advice measures in the 2010-11 Federal Budget.
In lobbying the Government in the lead-up to this year’s Budget, the association has repeated its calls for an increase in the superannuation guarantee (SG) and for upfront financial advice costs to be made tax deductible.
The FPA has also called on the Government to permanently set the concessional contribution cap for those aged 50 years and over at two times that of the concessional cap for those under 50 years, as well as to return the concessional cap limits to $100,000 and $50,000 respectively.
On insurance, the FPA wants changes to various tax settings for insurance within super to make it more attractive to consumers, including the removal of tax on all superannuation death benefit proceeds regardless of who the beneficiary is.
The association is also looking for changes to superannuation and the age pension to make it more beneficial to consumers to continue working longer. Improvements to the Government’s co-contribution scheme for lower income earners are also on the FPA’s list of recommendations.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
