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Policy

Tax & Super

Yesterday

Allianz recently devised a product, Allianz Guaranteed Income for Life (AGILE), to give Australians a constant stream of income in retirement.

How much is enough? Guaranteeing an income in retirement

Living a comfortable lifestyle in retirement is a priority for all Australians.

Sponsored 

by Allianz

Top earners: Mark Delaney, Deanne Stewart, David Elia and John Pearce.

Big super’s executive gender pay gap revealed

Analysis by The Australian Financial Review also shows who the highest-paid superannuation bosses were last year.

  • Hannah Wootton

This Month

ASIC wants a $27 million fine from the Federal Court against AustralianSuper.

‘No excuse’: ASIC seeks $27m fine against super giant for customer care fail

The corporate watchdog asked the Federal Court for a penalty with “real sting and burden” against AustralianSuper as a warning to the wider sector.

  • Hannah Wootton
Industry super funds have given all Australians a bigger share in the economy.

Union and employer boards make industry funds so successful

Industry super funds achieve strong performances precisely because of the equal representation on their boards – not despite it.

  • Garry Weaven
AustralianSuper chairman Don Russell is the country’s highest-paid super fund director.

Revealed: Which super fund directors earn the most

Payments to directors at one fund outstripped those of comparable size by more than half a million dollars, despite delivering worse returns than most of their rivals, analysis by AFR Weekend shows.

  • Hannah Wootton
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September

Atlassian co-founder and Spaceship investor Mike Cannon-Brookes.

Mike Cannon-Brookes’ super rocket crashes to Earth

Millennial investing start-up Spaceship’s exit is a mercy killing, with investors sitting on an illiquid and uncertain return.

  • Mark Di Stefano
Colonial First State super CEO Kelly Power says the digital advice tool is for unadvised clients.

Financial advice for $88: Super funds launch low-cost tools

Superannuation funds have ramped up their financial advice offerings, but the type of advice they can provide remains limited.

  • Michelle Bowes

Super funds’ meteoric rise poses new risks to financial stability: RBA

The $3.9 trillion sector’s rapid growth and its large exposure to the banking sector could amplify shocks in the future, the central bank has warned.

  • Hannah Wootton and Jonathan Shapiro
Former Treasury secretary Ken Henry, author of the 2010 tax reform report, says the inertia of the past 15 years is an intergenerational tragedy.

A plea for genuine reform from a young taxpayer

Readers’ letters on the lack of meaningful policy thinking; misleading discounts; the plague of populism; training for accountants; attacks on Hezbollah; and Gina Rinehart’s email.

Curtailing negative gearing and the capital gains tax discount would put upward pressure on rents.

Raising property taxes would reduce home prices but increase rents

Curtailing negative gearing and the capital gains tax discount would slightly reduce home prices, but put upward pressure on rents, housing economists say.

  • John Kehoe
The two biggest industry super funds now account for well over half of all new retirement savings.

The country’s two mega funds now attract half of all new super

But the growth of AustralianSuper and Australian Retirement Trust beyond all their other peers could be a “double-edged sword” according to some analysts.

  • Jonathan Shapiro and Hannah Wootton
Paddy Crumlin has been nominated to the board of Cbus.

Cbus’ CFMEU fallout ‘shows APRA’s weakness in super oversight’

Super funds get “preferential treatment” compared with banks and insurers, which may leave retirees out of pocket down the track.

  • Hannah Wootton

Bank investors face $1b franking credit hit

Hundreds of thousands of bank investors stand to lose tax credits under the prudential regulator’s plan to phase out hybrid securities.

  • John Kehoe and Jonathan Shapiro
ASIC’s Warren Day outlined the limits of the current system of regulating auditors at an inquiry on Friday.

Super boards can rely on ‘reasonable’ outside advice: court

The corporate watchdog has lost a case claiming Rest Super misled customers, with the judge finding the fund relied on reasonable legal advice from Allens.

  • Hannah Wootton
Allowing home buyers to access their super to fund their deposits will benefit wealthy and older investors, new analysis has found.

Tapping super for housing ‘a win for wealthy, older investors’

The Coalition policy would increase the borrowing of younger couples by only $90,000, compared with $400,000 for older investors, new analysis has found.

  • Hannah Wootton
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Cbus’ CFMEU-picked directors have left but three more are awaiting approval to replace them.

Minister, watchdog put onus on Cbus to decide on controversial directors

Industrial Relations Minister Murray Watt and the prudential watchdog sidestepped any endorsement of union firebrand Paddy Crumlin to the board.

  • Hannah Wootton
Paddy Crumlin has been nominated to the board of Cbus.

Boss of worst super fund tapped to join Cbus board

The CFMEU administrator nominated Maritime Union boss Paddy Crumlin to the $92 billion construction industry fund’s board despite his stint chairing the failed Maritime Super.

  • Hannah Wootton and Michael Read
The CFMEU scandal’s fallout into the superannuation sector is continuing with two fund directors appointed by the union removed from their roles.

More CFMEU directors removed from industry super fund boards

The union’s administrator has replaced the two BUSSQ directors with other CFMEU officials.

  • Hannah Wootton
Data centre king Robin Khuda.

Just how naughty was AirTrunk’s Robin Khuda?

Let’s meditate on the businessman of the year’s fantastic origin story: his use of super to pay employees.

  • Mark Di Stefano
George Alex outside the NSW Supreme Court at Darlinghurst during jury deliberations in his tax fraud trial.

‘I love a cunning plan’: A crime boss, the CFMEU and tax-dodging deals

Secret police recordings of more than 1000 calls made from prison helped unravel George Alex’s sprawling and corrupt labour hire empire.

  • Updated
  • Nick McKenzie, David Marin-Guzman and Kate McClymont