Government capricious on superannuation tax
The Federal Government has been accused of taking a "backward and capricious step" by altering the tax settings on superannuation in the forthcoming Federal Budget.
Financial Services Council (FSC) chief executive John Brogden told a joint FSC/Association of Financial Advisers (AFA) Forum that the Government's forecast Budget approach was more about meeting political Budget objectives than improving superannuation.
Brogden said consultation with the industry "has been half-hearted at best".
The FSC chief executive said earlier that his organisation remained opposed to the Future of Financial Advice bills in their current form, but particularly with respect to best interests and scaled advice.
He said in those circumstances the FSC would continue to lobby both the current Government and any future government for change.
Recommended for you
Data and technology provider Novigi has acquired Iress’ superannuation consulting and managed services business from Apex Group.
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
