Thu, 23rd May 2024

This episode of the Weekly Superannuation News Wrap with Paige Estritori covers key issues in Australia's superannuation industry. The controversial $3 million super tax cap policy is being challenged, with calls for amendments due to indexation issues. Changes face opposition from both the Greens, who blame Self Managed Super Funds, and Independent Allegra Spender, who criticizes the tax on unrealised gains. Financial year 2024 looks promising for Superannuation funds, with an 8% return predicted despite a 1.7% dip in April. However, Small and Medium Enterprises (SMEs) struggle with the rise in the superannuation guarantee, seeing it as a primary regulatory issue causing cash flow and compliance burdens. These topics and more are discussed in detail on Financial Services Online.