Mon, 11th Mar 2024

In this week's Superannuation News Wrap, we explore various changes in the Australian industry. Self-managed superannuation funds (SMSFs) have notably helped reduce the gender disparity in retirement savings via key legislative reforms and proactive participation. Over five years, the gender super balance gap fell from 20.3% to 15.9%, thanks to governmental efforts, including incorporating superannuation guarantee payments into paid parental leave. However, a potential tax loophole related to property investments by super funds could affect housing prices adversely. Increased property sales have caused SMSF contributions to surge, highlighting the need for improved understanding of related strategies. The podcast also addressed tax implications for inherited super funds. Lastly, by July 2025, the Federal Government's plan to contribute to superannuation as part of the Paid Parental Leave program is set to enhance financial security, especially reducing the superannuation gap linked to child-rearing breaks.