Andrea Slattery
The SMSF Professionals’ Association of Australia (SPAA) welcomes the announcement by the Treasurer Chris Bowen to commit to no major changes to superannuation tax policy for five years.
SPAA chief executive Andrea Slattery says: “This initiative is welcome. SPAA has been advocating that continual change to the superannuation rules acts as a disincentive for people to save for retirement.
“The commitment by the Government and Opposition to both make a commitment to no detrimental change is a step in the right direction to achieve bipartisan support for a more sustainable superannuation system that gives people greater confidence going forward.
“SPAA has always insisted, as far as possible, that superannuation be above short-term budgetary political pressures. “Superannuation is a lifetime commitment with the aim of reducing the long-term costs to government and allowing people to retire with dignity.
“Several recent reports that SPAA has commissioned have graphically illustrated that people’s confidence in the system is being undermined, and this commitment to not change superannuation tax policy by the Government and Opposition should help reverse this sentiment.”
Mrs. Slattery says SPAA also supports the decision to bring forward the legislation to establish the Super Council as another way to ensure superannuation is depoliticised.
“There are many examples of similar boards that advise government that play an important role in giving advice that is objective, independent and above day-today politics. To ensure this happens it is critical that eminent people from across the community who truly understand the retirement needs.