Small business advocates welcome government push to delay super rise

SmartCompany, November 20, 2020 Treasurer Josh Frydenberg. The Morrison government has delayed a decision about whether to push back a scheduled increase in the superannuation guarantee until mid-2021, in response to the economic fallout of the pandemic and a long-awaited retirement review. The Retirement Income Review, released on Friday, shared findings about how Australians can fund their retirements using voluntary …

Verdict on superannuation rise verdict delayed over cost to pay and jobs

Scott Morrison signalled in August that he was no longer wedded to lifting the super guarantee. Picture: Sarah MatrayThe Australian, November 19, 2020 Scott Morrison will delay a decision on whether to ditch next year’s scheduled rise in the compulsory superannuation contribution until the May budget over concerns that lifting it would smash wages as the economy recovers from the …

How budget’s ‘Big Super’ changes will affect you

Josh Frydenberg delivers the budget on Tuesday. Picture: Sean Davey.The Australian, October 9, 2020 By the time the budget finally was released on Tuesday the government had pre-released so much detail — especially on tax cuts and first-home incentives — it looked like there was nothing in there we didn’t already know. But in fact it contained a major surprise: …

Budget 2020: The pros and cons of Frydenberg’s superannuation reforms SmartCompany,

October 9, 2020 Treasurer Josh Frydenberg arrives to address the media, ahead of budget 2020 at Parliament House, in Canberra on Tuesday, October 6, 2020. Source: AAP Image/Mick Tsikas. In a budget surprise, the Morrison government has introduced measures that could tie members to their first super fund through life and bar underperforming funds from taking new members. The moves are …

ACTU steps up campaign to lift super guarantee to 12pc

ACTU president Michele O’Neil. Picture: AAP Image/Jono Searle.The Australian, September 28, 2020 The super sector has split over a long-term plan to move the super guarantee to 12 per cent, with some of the nation’s biggest retail funds backing away from a policy that could deliver hundreds of billions of dollars into the retirement savings system. The move came as …

Businesses confess $588 million in unpaid superannuation in return for amnesty

SmartCompany, September 22, 2020 Liberal Senator Jane Hume. Source: AAP Image/Mick Tsikas. About $588 million will flow into worker nest eggs after tens of thousands of employers came forward to admit shortchanging staff under the Morrison government’s superannuation guarantee amnesty program. More than 390,000 workers are expected to benefit from the scheme, which offered business owners a one-off opportunity to …

Pressure grows to delay rise in superannuation

Melbourne Business School professor Ian Harper says raising the costs of hiring workers was ‘ill-advised’. Picture: Stuart McEvoyThe Australian, August 30, 2020 The overwhelming majority of top economists say the federal government should abandon or defer the legislated increase in compulsory superannuation contributions, to help boost wages growth and spending during a sharp economic downturn. As the government ponders a …

Scott Morrison ‘carefully considering’ lift in compulsory super rate

Prime Minister Scott Morrison on Friday flagged that delaying or cancelling the staged increase in the compulsory super rate was on the cards. Picture: NCA NewsWire / Gary RamageThe Weekend Australian, August 21, 2020 Scott Morrison is “carefully considering” whether to scrap or delay next year’s planned ­increase in the superannuation guarantee, flagging the decision could hinge on how well …

Super increase in doubt as Scott Morrison fears hit to jobs

Governor of the Reserve Bank of Australia Philip Lowe.The Weekend Australian, August 15, 2020 Scott Morrison has given a strong signal he is no longer wedded to increasing the super guarantee to 12 per cent, acknowledging it could suppress wages and potentially cost jobs, as the government weighs up the findings of an independent review into retirement incomes. The Prime …

Big Super’s credibility gap on wages exposed

Financial Review, Jun 15, 2020 Big Super has been found out for denying that lifting the superannuation guarantee will have to be paid for by some combination of reduced take-home pay, jobs or profits. Imagine the uproar if a big bank was found out for saying one thing in public to influence a policy debate material to its corporate interests …