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HEWISON INSIGHTS
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Federal Budget
Nothing is off the table
Simon Curtain
Partner/Private Client Adviser
6 May 2013
With the 2013-14 Federal Budget looming there is a lot of speculation being thrown around as to what will and won’t be affected over the coming year. To make matters worse; Julia Gillard recently announced that ‘nothing is off the table’ for this budget.
With a $12 billion deficit looming it seems there will have to be some radical changes in this budget, or else we could see Australia slip further into debt. And once again it would seem that superannuation is a cherry ripe for the picking.
Already we have seen the Government announce changes to superannuation that are designed to reduce the tax benefits for the “super wealthy” as well as aiding those in their 50’s and 60’s to put more into super.
While the Government continues to tinker with the superannuation system, I still firmly believe that superannuation is the ideal place to accumulate wealth for retirement. With tax concessions and the long term nature of superannuation investment it would be hard to find a better alternative.
However, as I said in my blog a few months ago, https://www.hewison.com.au/live/blog/read/superannuation-–-a-cherry-ripe-for-the-picking
with an ageing population we should be doing all we can to incentivise workers to save for their own retirement today, by protecting the superannuation system at all costs.
Why can’t they just leave super alone?
Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.auPlease note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.