Clayton Utz lawyers face July 1 pay hit afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
63 per cent of organisations paying staff with a “total package” approach will offset some of the cost of higher superannuation by reducing take-home pay.
It’s a week before the Morrison Government reveals the full detail of its 2021 budget.
There has been plenty of press gallery back-grounding, but for superannuation some big issues remain unresolved.
Senior journalists have been told that Scott Morrison will not reverse the legislated SGL rise from 9.5% to 10% but it remains uncertain as no Government Minister will confirm this.
Even less certain are the four increments of .5% that are set to follow each July until 2025. This guarantees super will be part of the 2022 election contest.
The net result is that workers, employers and the finance professionals who advise them are left guessing about some pretty big issues.
Slash interest rate bill on reverse mortgages for retirees: Seniors lobby group
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A lobby group representing more than 130,000 older Australians wants an overhaul of the federal governmentâs reverse mortgage scheme for retirees, warning the interest bill is too high and out of step with the record low official cash rate.
National Seniors Australia has asked Treasury to drastically lower the interest charged on the Pension Loans Scheme, saying the 4.5 per cent rate is a deterrent for asset-rich, cash-poor retirees considering tapping into their homeâs equity for income. The group is also asking for the scheme to include an even lower rate when the funds are used for home care.