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The Henry Review
into Australia's tax system, along
with the Government's initial
response, were released on 2 May
2010. The Final Report contains
138 recommendations which are
designed to make the current tax
arrangements fairer and simpler.
The centrepiece of the reforms
is the introduction of a Resource
Super Profits Tax which will be
used to boost superannuation savings,
cut the company tax rate and pay
for infrastructure projects.
More
With most of
the big policy changes being leaked
to the media over the past fortnight,
the 2009-10 Federal Budget did
not contain too many surprises.
But that doesn't mean it can be
brushed aside. The Government's
spending increases, changes to
superannuation and the prospect
of large, on-going budget deficits
will have important implications
for many investment strategies.
More
Legislative
changes which took effect from
24 September 2007 mean that self
managed superannuation funds (SMSFs)
can now borrow to invest. Although
the general prohibition against
borrowing by super funds remains
in place, the Federal Government
amended the Superannuation Industry
(Supervision) Act in 2007 to permit
super funds to invest in instalment
warrants. More
The
Federal Government has announced
further reforms to the superannuation
system which should make it easier
for workers aged over 55 to retire
gradually rather than leaving
the workforce altogether.
More
On 5 September
2006, the Federal Government released
the final version of its Simpler
Super proposals. The changes were
first announced in the 2006-07
Federal Budget and since then
the Government has received more
than 1,500 written submissions
and logged over 3,500 phone calls
on the new rules. More
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N
E W S F L A S H
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F
I N D I T H
E R E
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- My
commissions are paid
by the fund manager
- they're not an additional
cost to you. More
- This
is a good investment
because it's capital
protected. More
- Our
risk questionnaire
indicates that you're
a conservative investor.
More
- Index
funds are OK, as long
as you're happy with
second best. More
- I've
spread your portfolio
across eight funds
so you get good diversification.
More
- Don't
worry. All these funds
have been approved
by independent researchers.
More
- You
should use dollar
cost averaging to
drip feed your savings
into the market. More
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