POWERED BY MOMENTUM MEDIA
Don’t reduce CGT exemption: AIST
Reducing the Capital Gains Tax (CGT) exemption for super funds will hit the retirement savings of all fund members, the Australian Institute of Superannuation Trustees (AIST) believes.
AIST said the Government needed to re-focus super tax reform on improving fairness in the system and setting system objectives.
AIST chief executive, Tom Garcia, said cutting the CGT discount for super funds would undermine investor confidence in the compulsory super system and distort investment markets.
"The reason CGT discounts apply in superannuation in that they provide an incentive for long-term saving and any reduction to the current discount would dilute this," Garcia said.
"Just about every week brings a different proposal for super which must be causing great uncertainty for working Australians saving for their retirement.
"Legislating objectives for super will put an end to ad hoc policy tinkering and provide a robust framework with which to assess future policy proposals."
Recommended for you
Governor Michele Bullock took a more hawkish stance on Tuesday, raising concerns over Donald Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
