POWERED BY MOMENTUM MEDIA
Government should pay part of super to help small businesses
Chris Pearce, the Shadow Minister for Financial Services, Superannuation and Corporate Law, has suggested paying out a portion of the superannuation guarantee obligations on behalf of small business employers to help them with their cash flow. The proposal would run for a period of two years.
Pearce said the measure would protect 3.8 million jobs.
“Our proposal would mean that the Commonwealth would contribute a substantial portion of the superannuation guarantee payments that employers are required to make on a quarterly basis,” Pearce said.
The proposal would maintain and contribute to the Coalition’s long-term policy of fostering growth in super and enhance the adequacy of super accounts, Pearce said.
The proposal was likely to save jobs and sustain the level of super contributed to retirement, according to industry sources, the release said.
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(%)
