NEWS

Poorly performing superannuation products could be costing retirees up to $205,000 over their retirement, according to new research from an industry body. Super Consumers Australia conducted the analysis and as a result is calling for increased safeguards to hold poor performing super funds accountable. The report, Securing Australia’s Retirement: It’s time to protect retirees from dud investment options, reveals that all the options that failed the government’s annual perfor

Understanding when GST is applicable in an SMSF can help mitigate unnecessary tax impacts, a leading educator said. Mark Ellem, head of education (SMSF) for Accurium, said in a recent webinar that super funds are generally making financial supplies which are an input tax and have no GST consequences. “The main financial supply that a superannuation fund provides is an interest in the complying superannuation fund – that's a financial supply. Other financial supply examples in

Shadow treasurer Ted O’Brien said the government is increasingly viewing superannuation as a tool for plugging budget holes and funding “pet projects”. In a virtual address to the Association of Super Funds Australia conference on Thursday, O’Brien said Labor politicians “look out over this vast, $4 trillion pool of Australians’ retirement savings, and imagine all the wonderful things they could do with it”. “When I say Labor thinks of super as its personal piggy bank, I mean