Overview of Budget 2025 – no news is bad news?
The Federal Budget had no new announcements about superannuation legislation. This means the government will take its contentious Division 296 Tax to the next Federal Election, the date of which is likely to be announced later this week.
This is disappointing, as Div 296 taxes a paper gain for an ever-increasing number of superannuants, whilst ignoring concerns (and solutions) put forward by industry.
With two more sitting days of both Houses of Parliament this week, it will be interesting to see if the government tries one last time to get the bill through. Given its earlier failures in garnering the numbers in the Senate, one can only hope the government and Treasury are forced back to the drawing board to rethink their super policy.
Whilst some acknowledge there may be room for changes to superannuation, it is the way this government is going about it that is of concern.
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For other service requirements, please contact our office at neo@neo-super.com.au or 1300 083 428.
