News Reader.info

‘THEY CAN AFFORD IT’, LABOR SAYS OF SUPER TAX, AS RICH LISTERS TAKE STOCK Some of Australia’s richest people including Gina Rinehart and Jack Cowin have warned the proposed tax on super

balances above $3 million will stymie investment. LABOR’S $3M SUPER TAX HAS A NASTY STING FOR PUBLIC SERVANTS Regulations governing the public service defined benefit super scheme mean some

people will be double taxed under the proposed changes. HOW MUCH EXTRA TAX WILL I PAY IF MY SUPER BALANCE IS $3.1M? An important consideration you will need to know is the imposition of the

new Division 296 tax on individual superannuation balances, assuming it becomes law. LABOR HAS ‘NO INTENTION’ TO BAN SMSF BORROWING IN $3M TAX NEGOTIATIONS Treasurer Jim Chalmers says

negotiations in the Senate to pass Labor’s super tax increase have yet to begin. THE LITTLE-KNOWN ASSET CLASS SET TO SOAR THANKS TO LABOR’S SUPER TAX A long overlooked investment product

that has many of the tax advantages of super without the drawbacks just might be the answer to your investment prayers. ‘IT WILL COMPLETELY KILL US’: VC SECTOR SLAMS SUPER TAX Tech

entrepreneur Leigh Jasper, equipment hire king Angus Kennard and angel investor Campbell Newman say Labor’s super tax will hit exactly the wrong target. CHALMERS’ SUPER TAX IS VERY SMART,

THAT’S WHY IT’S SO CRUEL The cleverest thing about the proposed new tax on unrealised gains in high balance superannuation accounts may be the man selling it. WHY YOU SHOULD THINK TWICE

ABOUT TRYING TO AVOID THE $3M SUPER TAX The dilemma is that taking action to avoid one tax (on earnings above $3 million) might trigger another one (capital gains tax). HELP! I STILL DON’T

UNDERSTAND HOW ALL THE SUPER CAPS WORK The super system features a range of limits designed to restrict tax advantages to levels parliament has deemed reasonable – and their interaction is

complex. WHY YOUR KIDS WILL PAY CHALMERS’ 30PC TAX ON SUPER While the plan to increase taxes on high super balances was touted as hitting only 0.5 per cent of savers, in 40 years’ time the

average worker will be in the crosshairs. TRUMP COULD FORCE INVESTORS TO DUMP US DOLLAR, SAYS FUTURE FUND The sovereign wealth fund said there was more risk in US investments, and even

though America remained attractive the fund was looking toward Europe, Japan and Australia. YOU ARE (MUCH) WEALTHIER THAN YOU KNOW, THANKS TO AN $897,610 PERK The aged pension means every

couple in Australia is already a millionaire – they just don’t know it. Here’s how we worked that out and what it means for you. APRIL THIS TAX STRATEGY MAKES IT HARD TO LOSE MONEY WHEN

MARKETS FALL The tax benefits of salary sacrificing into super are so good, markets would have to drop by at least 20 per cent for most people to be worse off. CAN I ADD PROCEEDS OF

INVESTMENT PROPERTY SALE TO WIFE’S SUPER? Now is a good time of the year to consider topping up your retirement savings. I’M 72 WITH $2.3M IN SUPER. HOW MUCH MORE CAN I CONTRIBUTE? There is

a lifetime limit on the amount of super that can be transferred into your tax-free pension accounts. WHY YOUR SMSF IS NOT A DE FACTO PRIVATE BANK Many self-managed super fund trustees

continue to cite a handful of persistent myths to justify – or excuse – unlawful loans. RETIREES ARE TRYING TO CHANGE THEIR SUPER. THEY CAN’T LOG IN While market volatility is wiping

billions off sharemarkets, super members wanting to check their balances or change investments are being hampered by outages. WHAT YOU NEED TO KNOW ABOUT THE MASSIVE SUPERANNUATION

CYBERATTACK Several super funds with millions of members have been subjected to a co-ordinated cyberattack. Here’s what you need to know. BIG SUPER IS NOW A BIG TARGET OF CRIMINALS. IT’S

TIME FOR FUNDS TO STEP UP The super sector has been warned for two years to get its act together on cybersecurity. Once again it’s been caught out.