Business Services Industry
Breaking down low-income barriers.
Australasian Business Intelligence, August, 2003
Aug 19, 2003 (The Australian - ABIX via COMTEX)
Retired investors in Australia stand to gain from proposed changes to income stream rules. The Senate Select Committee on Superannuation has made the recommendation. It urged the Government to reconsider curbs on retirement income products and encourage availability of growth pensions. The move will benefit those with an asset test issue and needing a complying income stream to resolve it. The Investment & Financial Services Association has been demanding the allowance of growth pensions. According to David Shirlow, Macquarie Financial Services technical manager, the changes would benefit some investors. They can qualify for a higher level of concessionally-taxed superannuation benefits.
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