Sighs of relief from superannuants
Deloitte Federal Budget media releaseDOWNLOAD
15 May 2013: After much speculation following the Prime Minister’s recent statement that ‘everything was back on the table’, and much to the relief of superannuants and the superannuation industry, no further changes to personal superannuation were announced in Tuesday’s Federal Budget.
“The Budget essentially reiterated the superannuation announcements already made on 5 April 2013,” said John Randall, superannuation tax partner at Deloitte.
“Individuals and the superannuation industry should now be able to carry on with some sense of certainty and stability at least until the November Mid-Year Economic Forecast Outlook,” he said.
“Despite the changes announced last month, it appears that the tinkering has stopped, and perhaps more importantly, that superannuation is not seen as a money pit to fix budgetary problems.
“Australians deserve to have certainty in their retirement planning. The current and future governments should commit to a moratorium on superannuation change unless, or until, there is a full and comprehensive review of the fundamentals of the retirement incomes regime,” Randall said.