A Liberal senator is questioning why people cannot use their superannuation to buy a home,given self-managed super funds own almost $49 billion in residential real estate.
The Super Members Council found the scheme to allow first home buyers to withdraw $50,000 from super for a deposit would push home prices up by 9 per cent.
Returns for funds in retirement phase are rarely shared,despite the fact they regularly outperform typical accumulation accounts.
The value of a financial advisor can sometimes be intangible,but for $11,000 you’d want to be getting significant support.
ASIC has taken the country’s biggest super fund to court for failing to merge duplicate accounts,which cost members about $69 million.
Sources close to the government said it was a “no-brainer” for super to be part of the mix for funding aged care as costs climb over the next decade.
Environmental activist group Market Forces accused Australia’s 30 biggest superannuation funds of greenwashing while actually increasing their exposure to fossil fuel companies.
The Albanese government should do more to rein in excessively generous super tax breaks,so the burden of an ageing population can be shared fairly between young and old.
Only 37 per cent of voters believe super should be used for a deposit on a first home,highlighting a clash on plans to set the purpose of $3.3 trillion in savings.
Labor came under fire for not indexing their superannuation tax threshold,but will use modelling to show the Coalition’s own changes will affect triple the number of Australians.
Treasurer Jim Chalmers has revealed the government’s superannuation changes will hit one in 10 people,but it will take three decades to reach that point.