After the Hayne Royal Commission many advisers decided to steer away from large dealer groups in favour of becoming self-licensed. In the last six months, however, that trend has taken an abrupt turn.
While known for being the flagbearer for financial product providers, the Financial Services Council is now making serious inroads into the financial advice sector.
Super tax changes will cost retirees
The possibility for government to increase superannuation taxes in response to the ballooning
budget deficit caused by COVID-19 could severely hurt member balances at retirement, according to a research note by the global implementation specialist manager Parametric.
Raewyn Williams, head of research (Australia) and analyst Josh McKenzie, in a short paper titled
“Will retirees pay the price for superannuation tax rises?” argue that investment tax inside super
may be a political “soft target” because it won’t be felt directly in most voters’ hip pockets, but it will
come with an unfavourable “tit for tat” – the longer-term impact on retirement outcomes.
Read the full Media Release: here.
