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8 October 2025
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The arguments no longer focus on the $3 million but there is no 30% tax on large super balances, despite what everybody including Treasury says. It's a completely new 15% tax with a unique calculation which includes unrealised capital gains.
Treasury might not realise, but it's not a 30% tax, it's a completely new tax. And payment will not be due until FY28. Taxing unrealised gains will have major implications and the lack of indexing must change.
The benefits in retirement come at the cost of consumption in prior years and this trade-off should be the focus in making reforms to super. Otherwise, the system will continue to benefit the rich at the expense of the poor.
About 20% of the $890 billion in SMSFs is allocated to cash and term deposits. While understandable to an extent, more of this money is likely to make its way into bonds given the now attractive yields on offer.
Younger people should have the option to draw on their super balance to buy a home. It is the height of hypocrisy to allow retirees to use super to reduce their mortgage but deny young people early access.
Charlie Munger is famous for applying different 'mental models' to get an edge in markets. In this vain, here's a look at how ecological niches can be applied to stock markets and may help you become a better investor.
The recently passed Inflation Reduction Act is poised to have a significant impact on the US economy, especially in the renewable energy sector. Australia is well placed given our minerals are critical to decarbonisation.
Perhaps the most consequential lesson from the pandemic for companies is that relying on single links in the global supply chain is a mistake. Here's how businesses are adjusting and the implications for investors.
This AI cycle feels less like a revolution and more like a rerun. Just like fibre in 2000, shale in 2014, and cannabis in 2019, the technology or product is real but the capital cycle will be brutal. Investors beware.
An explosion in low-skilled migration to Australia has depressed wages, killed productivity, and cut rental vacancy rates to near decades-lows. It’s time both sides of politics addressed the issue.
LICs are continuing to struggle with large discounts and frustrated investors are wondering whether it’s worth holding onto them. This explains why the next 6-12 months will be make or break for many LICs.
Australian housing’s 50-year boom was driven by falling rates and rising borrowing power — not rent or yield. With those drivers exhausted, future returns must reconcile with economic fundamentals. Are we ready?
Younger Australians think they’ll need $100k a year in retirement - nearly double what current retirees spend. Expectations are rising fast, but are they realistic or just another case of lifestyle inflation?
This week, I got the news that my mother has dementia. It came shortly after my father received the same diagnosis. This is a meditation on getting old and my regrets in not getting my parents’ affairs in order sooner.