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3 January 2026
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When Dr Martin Parkinson, Secretary to the Treasury, spoke at the 2012 ASFA conference on 28 November about the future challenges for Australia's superannuation system, he made all the right noises. Here is what he said, with our underlined emphasis:
"There are various reasons higher national saving is particularly welcome at the moment, though some sectors are adversely affected. With the international environment more uncertain than over most of the preceding 15 years, borrowing less and saving more makes us more resilient to possible adverse developments. While our terms of trade remain high by historical standards, the recent decline only emphasises that some (unknown) portion of our current national incomes is temporary. And there are benefits to saving more now to support a progressively older population, before the impacts of population ageing become more pressing.
Superannuation's large pool of stable and unleveraged superannuation assets contributes to financial stability by adding depth and liquidity to financial markets; providing an alternative source of finance for other sectors; and acting as an important buffer against external shocks.
In addition to the rise in total flows into superannuation funds, an increasing proportion of financial asset acquisition has been going into domestic equities and deposits, particularly in the post-GFC period. This has helped Australian banks and non-financial firms shift toward safer forms of financing in an environment where debt financing is less readily available and is seen as more risky than it was pre-GFC."
So while it is often believed that Treasury looks at the tax concessions in superannuation like a buzzard hovering over a carcass, and clearly has targetted lower contribution limits, let's hope Dr Parkinson's views translate into restraint on additional taxes.
The $32 billion 'cost of superannuation' number has become the most dangerous weapon used by critics of super tax concessions. Treasury says it's not the amount that would be saved.
The superannuation system has succeeded brilliantly at what it was designed to do: accumulate wealth during working lives. The next challenge is meeting members’ diverse needs in retirement.
Two years ago, I wrote an article suggesting that the odds favoured ASX shares easily outperforming residential property over the next decade. Here’s an update on where things stand today.
I am a professional real estate investor who hears a lot of opinions rather than facts from so-called experts on the topic of property. Here are the largest myths when it comes to Australia’s biggest asset class.
In an interview with Firstlinks, CEO Mark Freeman discusses how speculative ASX stocks have crushed blue chips this year, companies he likes now, and why he’s confident AFIC’s NTA discount will close.
It might not be quite an ‘everything bubble’ but there’s froth in many assets, not just US stocks, right now. It might be time to stress test your portfolio and consider assets that could offer you shelter if trouble is coming.
I’ve been comparing property and shares for decades and while both have their place, the differences are stark. When tax, costs, and liquidity are weighed, property looks less compelling than its reputation suggests.
At this time last year, I forecast that 2025 would likely be a positive year given strong economic prospects and disinflation. The outlook for this year is less clear cut and here is what investors should do.
Much has been made of how US markets, especially the NASDAQ, have significantly outperformed the ASX over the past two decades. History suggests the pendulum will swing back once again in Australia's favour.
What is the X-Factor - the largely unexpected influence that wasn’t thought about when the year began but came from left field to have powerful effects on investment returns - for 2025? It's time to select the winner.
What is progress? Is it GDP growth? Increasing wealth? New and improving technology? This argues that our measure of progress has become warped, and we're heading backwards rather than forwards.
Summer is a great time to catch up on a good book. Here is a list of books on leadership, investing, and well-being for those looking to learn, reflect, and gain inspiration over the holiday season.