Baby Boomers put squeeze on the young

Original article by John Kehoe
The Australian Financial Review – Page: 8 : 19-Aug-19

The Grattan Institute contends that people aged 40 contribute twice as much in tax to support older Australians than Baby Boomers did at the same age, after adjusting for inflation. The percentage of households over the age of 65 that pay tax has fallen from 27 per cent in the mid-1990s to 17 per cent, while the Grattan Institute notes that the wealth of households under the age of 35 has barely changed since 2004. It puts forward a number of suggestions to address this intergenerational divide, including taxing superannuation earnings in retirement at 15 per cent and lifting the pension age.

CORPORATES
GRATTAN INSTITUTE, AUSTRALIAN TAXATION OFFICE, AUSTRALIA. PRODUCTIVITY COMMISSION, KPMG AUSTRALIA PTY LTD

No evidence retirees are wasting super

Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 7-Jul-15

A Productivity Commission report estimates that retirees’ superannuation balance would be bolstered by at least 10 per cent if they were not able to access their super until the age of 65. The report also refutes the widely-held view that members of the Baby Boom generation are reorganising their finances or spending their super payout on expensive holidays in order to qualify for the age pension.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

RBA tool blunted: ANZ

Original article by Jonathan Shapiro
The Australian Financial Review – Page: 21 : 22-Jun-15

The Reserve Bank of Australia’s policy of reducing interest rates was intended to encourage consumers to spend. However, ANZ Bank economists have concluded that people nearing retirement are in fact saving rather than spending. They also note that older Australians are also saving more as a result of uncertainty concerning superannuation policy.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Weekly gambling spend negligible for Generations Y and Z … unlike the Boomer generations

Original article by Roy Morgan Research
Market Research Update – Page: Online : 2-Mar-15

A Roy Morgan Single Source survey has found that the average Australian aged 18+ spent $A135 on leisure and entertainment per week in the year to December 2014. This include money spent on going out, entertainment at home and gambling. While gambling accounts for $A13 of the average Australian’s weekly leisure and entertainment spend, Generation Z spends an average of just $A4 per week on gambling. This compares with an average of $A21 per week for Baby Boomers and $A20 for Pre-Boomers

CORPORATES
ROY MORGAN RESEARCH LIMITED