Anglicare Australia response to the Superannuation Objective Bill 2016
Anglicare Australia has offered the following response to the Superannuation (Objective) Bill 2016
Anglicare Australia welcomes the Government’s commitment to legislate the objective of superannuation. A clear objective that requires any new policies to be compatible with its purpose will help to guide future reform. The lack of a formal objective has allowed superannuation to be used as a vehicle for various objectives, including tax avoidance, wealth accumulation and estate planning. It is important, then, for the objective to be considered in the context of creating a sustainable and fair retirement income system that will support people for decades to come. This will strengthen the likelihood that any changes to superannuation will support a holistic, well-functioning and balanced retirement income system that provides adequate retirement incomes for all.