Tue, 28th May 2024

This week's episode of Financial Services Online's Weekly Superannuation News covers intense debate sweeping Australia's financial sector over the $3 million superannuation tax cap policy. The discussion centres around indexation, with financial advocates pushing for significant amendments to this controversial bill. The Greens Party is calling for more assertive reforms—particularly targeting Self Managed Super Funds (SMSFs) and potentially risky borrowing within super funds. The Greens' Max Chandler-Mather is also campaigning against super tax concessions for property investors to maintain our superannuation system's stability. Moreover, Independent Allegra Spender has expressed concerns about taxing unrealised gains and the absence of indexation. This rapidly evolving issue and others relating to superannuation will continue to be explored in future weekly wraps.