Labor’s $3 million superannuation tax is set to permanently alter the complexion of self-managed superannuation funds because trustees and their advisers may be tempted to stack them full of low-growth, dividend-producing assets.
Switching out of assets such as direct property, more speculative shares and cryptocurrency and into bonds, cash and dividend-producing blue-chip shares could be a smart move, says Brad Twentyman, client director in Pitcher Partners’ super consulting and advisory practice.
Joanna MatherWealth editorJoanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
Michelle BowesWealth reporterMichelle Bowes writes about personal finance from our Sydney newsroom. She has been a business journalist for 25 years and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com
