Savers’ contributions after tax plunge 29pc

Original article by Sally Patten
The Australian Financial Review – Page: 5 : 23-Nov-16

Data from the Australian Regulation & Prudential Authority shows that after-tax superannuation contributions fell by 29 per cent year-on-year in the September 2016 quarter, to $A3.7bn. Post-tax contributions totalled $A19.2bn in the year to September, which is 17 per cent lower than previously. Jordan George of the SMSF Association and Profectus Financial Group’s Mark Fenech attribute the downturn in contributions to uncertainty regarding the Federal Government’s proposed super reforms.

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, SMSF ASSOCIATION, PROFECTUS FINANCIAL GROUP PTY LTD, AUSTRALIAN LABOR PARTY

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