Macquarie Adviser Service’s superannuation specialist, David Shirlow, has called on the government to extend the tax deductibility of personal contributions for the self-employed to all working Australians.
Shirlow, MAS’s head of technical services, said extending the deductibility to employee contributions could be introduced alongside complementary means-tested rules on eligibility for the government co-contribution.
The level of co-contribution could be graduated according to the applicable tax brackets to match the value of the tax concession to the individual’s income, he said.
“This approach involves a substantial reduction in the complexity of superannuation rules for both fund members and their financial advisers,” Shirlow said.
Regulation1
E&P sees Dixon in rearview mirror while advisers foot the bill
The parent company of Dixon Advisory, E&P Financial Group, has told the market its legacy issues are behind it, while preaching its core values of putting clients first and acting with integrity. Meanwhile, former Dixon clients are left on their own to fight for compensation and advisers and licensees are left to foot the bill. Simon Hoyle and Chris Dastoor write it’s par for the course for a flawed scheme design and a “diabolical” funding model.
Chris Dastoor and Simon HoyleAugust 29, 2024
