How will the Federal Budget affect your savings?
Good afternoon
Last night the Federal Government handed down the Federal Budget for 2010-2011. There were a number of announcements that may affect your super and pension savings.
Overview
From a superannuation and investment perspective, there were no big surprises, and from a financial planning point of view the impact of the budget measures are small.
AUSCOAL Super generally welcomes the budget measures, which will see super accounts boosted for the average worker, help us meet the needs of an ageing society, encourage greater national savings, both inside and outside superannuation, and provide a resilient source of income for infrastructure projects.
However, as the industry super fund for Australia's coal mining community, we will watch with interest negotiations on the Resources Super Profits Tax.
We have highlighted the key changes for super and developed an overview for members at different life stages and income, however the changes outlined are proposals only and will not take effect until the passage of relevant legislation. Read more |
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