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Savings tax

March

Australia’s superannuation sector is a national treasure, but that doesn’t mean funds cannot be run better. ASIC makes a good case to clean up death benefits.

How super funds treat your money when you die is shameful

What we have is a returns-focused industry that makes it very easy to put money in, but much harder for your next of kin to get it out.

June 2024

The most important thing an investor can do to take advantage of compound interest is to start as young as possible.

How anyone can turn $5000 into more than $400,000

Building wealth can be simple if you stay disciplined. Here are six essential lessons for share investors.

October 2023

Barrenjoey chief economist Jo Masters says the savings buffer that has boosted Australian consumption could be gone by March.

Australia’s savings buffer gone by March, consumption to take a hit

Fixed rate mortgages, savings and a hot jobs market have sheltered households, but the dominoes are falling and economists worry the savings buffer is almost gone.

April 2023

Six inflation-busting strategies to boost income

The highest inflation since the early 1990s has “caused havoc” among retirees who need new ways to keep up with rising costs.

April 2022

Property buyers stash record amount in offset accounts

Offset accounts can save money but make sure you’re not paying more in interest or that better returns are not available elsewhere.

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September 2021

Winning the super race is not just about contributions but making sure you’re in the right fund and asset allocation.

The paperwork that can return up to $300,000

Switching to a higher-performing super fund and making sure your asset allocation is correct can add hundreds of thousands of dollars over 20 years.

July 2021

Australians are sitting on a huge pile of savings.

Australians are sitting on a $140b post-pandemic war chest

Households have squirrelled away more than $140 billion since the start of the coronavirus pandemic, ready to unleash when life returns to normal.

December 2020

AOFM chief executive Rob Nicholl is cool, calm and collected about the near trillion in government debt that needs to be managed.

Australia's trillion-dollar man is calm about debt

With the average Australian worker set to carry $77,000 in government debt by the end of the next financial year, managing it has never become so important.

October 2020

Economists are hoping that the animal spirits will start reducing the savings rate and boosting the economy.

Will 'animal spirits' reawaken the economy?

Entrepreneurial spirits need to be lifted if the economy is to recover, but tax incentives and the legacy of COVID-19 restrictions could dampen that.

Prime Minister Scott Morrison and Treasurer Josh Frydenberg are guarding some big announcements on tax cuts.

Retrospective tax cuts could counteract fiscal cliff

A retrospective tax cut for the 2020 financial year could see cash in people's pockets better timed to suit the fiscal step down caused by the withdrawal of JobKeeper and JobSeeker.

June 2020

A superannuation nest egg.

How super saved start-ups

The compulsory super system has delivered many benefits to the Australian economy. But one of the least well understood is the support for start-ups.

AFR

Tax strategies that count the cost of COVID-19 and recession

Traditional office-related expenses will be supplanted by claims from business owners and their employees working from home offices.

December 2019

A GFC stimulus-like boost to consumer spending is expected after Labor agreed to pass the government's tax cut bill.

Households save gains from lower rates, taxes

Savings increase at the fastest rate since the 2008 global financial crisis, as people choose not to spend more despite the rise in disposable incomes.

November 2019

People who have changed jobs frequently are more likely to have lost track of super.

ATO locates $21b in lost super

Nearly $21 billion of lost and unclaimed super has been discovered by the Australian Taxation Office, including one woman who had "lost" more than $1.5 million.

October 2019

Thanks to the euro, Germany has a stable and competitive real exchange rate.

How the euro helped Germany avoid becoming Japan

Rather than complaining about ECB policy, the Germans should be thankful for what the single currency, and Mario Draghi, have given them.

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September 2019

UBS expect a 1 per cent increase in retail from the government tax cuts.

Tax cuts to almost double economic growth in September: UBS

A strong rebound in consumption due to taxpayers claiming a $1000 tax offset will help turbocharge economic growth in the September quarter, according to global bank UBS.

August 2019

Savers looking for alternatives as rates plunge below inflation rate.

Savers dump major banks as rates plunge

Savers are quitting the big four banks as falling rates force them into higher yielding accounts or alternative asset classes, according to analysis by Morgan Stanley.

July 2019

afr

CBA inflicts more pain on savers as rates head to zero

CBA cuts saver rates by between 15 and 25 basis points

The banks have taken different approaches.

Saver deposit rates crushed below 2pc

Savers have never been worse off after interest rates on standard savings accounts were slashed below 2 per cent by ANZ and NAB on Friday.

AFR

How the government saves money at pensioners' expense

Rates used to calculate income support have not been adjusted to reflect record low fixed income.

Original URL: https://www.afr.com/topic/savings-tax-1mpx