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Reading the Federal Budget crystal ball
Rollover does enjoy the run-up to a Federal Budget because of all the policy speculation that goes on and the necessity for journalists to decide what is a red herring and what is not.
Thus, he spent much of April and early May closely reading the various utterances of the Treasurer, Scott Morrison, seeking to decipher what superannuation elements would be included in the Budget brought down on 9 May after the super fiesta which was the 2016 Budget.
And it occurred to Rollover that one of the problems for the superannuation industry is that the impacts of the comprehensive changes announced in the 2016 Federal Budget are still not completely understood, particularly those around the $1.6 million transfer balance cap.
Ever the optimist, Rollover thinks Morrison might be clever enough to lift the super contribution caps, but given the Treasurer’s Sydney-focus he thought it far more likely Morrison would offer some sort of sop to the real estate lobby.
Rollover believes that the only certainty from a Coalition Government at Budget time is that there will be no further increase in the superannuation guarantee. Who said Rollover could not read a crystal ball?
AUTHOR
The Rollover
Rollover is a jaded hack who joined the staff of Super Review nearly two decades’ ago and never managed to summon the energy to leave. Known throughout the superannuation industry as a power-luncher and gossip, Rollover spends his time humouring fund managers, eavesdropping at conferences, dozing through briefings and looking for his next free meal.
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