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Budget 2016: Super shake-up to shift $3bn elsewhere

The 2016 budget drives investment funds out of superannuation and into other sectors.  Where will an extra $3B from high income earners go?  Without tax concessions they need more performance from leverage assets.  $3B at an 80LVR it is a $15B boost to the property investor sector.  Will this cause further imbalance between home owners and investor lending?

“More than a million Australians who have a combined $600 billion in self-managed super funds are expected to be hardest hit from the budget’s sweeping changes to superannuation.

Self Managed Super Fund ­Association chief executive ­Andrea Slattery warned that the changes would send shock waves through the sector and “severely reduce the ability of people to save for retirement”.

Based on previous research, more than $3bn a year may now be diverted out of super to be ­invested elsewhere or be spent.”

 

http://www.theaustralian.com.au/business/wealth/budget-2016-super-shakeup-to-shift-3bn-elsewhere/news-story/92fda7bd10566a60459e5fa9fbd1c3c6