Wed, 21st May 2025

This week's Superannuation News Wrap centers on the Australian Labor Party's superannuation law targeting unrealized gains over three million dollars, advanced by Treasurer Jim Chalmers. There's a focus on refining its details, but some resistance remains, primarily from the SMSF Association. Discussions with Senate crossbenchers and Greens aim to make diligent amendments instead of rejecting the bill outright. Additionally, Australian superannuation funds displayed promising progress in April despite US tariffs, as heartening returns of up to 0.6% were reported, suggesting resilience amid market volatility. The Executive Director of SuperRatings, Kirby Rappell, emphasized the need for long-term investment strategies. Supers are gearing up for about a 6% return this fiscal year. Visit Financial Services Online for more on superannuation updates.n