Here we outline the 4 key uncertainties around the super changes proposed by the Government.
1. Who will win the election?
If the Government is re-elected, their proposed super changes are the only game in town.
If Labor is elected, then we need to understand their super changes (outlined in our Budget Survival Guide) with an understanding that they may well retain some of the Government’s proposed changes (the Government has already taken the flack for proposing them and it may be in Labor’s interests to retain some of them).
These were our predictions in late 2015 in Investing Insights:
Prime Minister Turnbull elected with a healthy majority
We almost wrote ‘re-elected’ there until we remembered that PM Turnbull hasn’t actually been elected yet. While much can happen between now and the Federal election in 2016, we believe Turnbull’s centralist positions combined with the sense of relief that the Rudd-Gillard-Abbott era is finally over should see his Government comfortably re-elected.
June 2016 comment: We continue to believe this is the likely election result.
Budget full of super surprises
We expect the first Turnbull/Morrison Federal Budget in May to be a bold one. They will announce major changes to super that will likely impact many of our clients. We will communicate with you in advance of this time. Read more online here bit.ly/SuperChanges.