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Edition: 539

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Welcome to Firstlinks Edition 539 with weekend update

  • 13 December 2023
  • 11

In politics, there’s an old saying that if everyone is unhappy with a policy, then it must be on the right track. On that measure, the Government’s financial advice reforms aren’t a total success, though they may not be far off.

Which asset classes are undervalued right now?

Many assets have had a rollercoaster 2023 though most are up, and some of them are up a lot. Here we compare valuations of cash, bonds, stocks, and property, and suggest where investors may be able find a bargain.

Super wars: who needs to do what for retirees?

Retirement is the new black and super funds are seemingly expected to do all things for all retirees. Do we need to better apportion the different responsibilities to create a world class retirement income system?  

Time to announce the X-factor for 2023

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 2023? It's time to select the winner.

The reforms that our retirement system needs

Australia should change its retirement system so people can easily access targeted support to plan their futures and fund their lifestyles by having greater work flexibility and access to equity in their homes.

The future of bank hybrids is open to question

APRA is reviewing hybrid capital bonds issued by banks. This is hardly surprising since the demise of Credit Suisse showed they don't work for the purpose that they are designed, and their continued use must be questioned.

Cash underperforms when rates peak

History tells us that hiding in cash isn't the best approach when interest rates peak. While equity markets have had a strong year driven by the ‘Magnificent Seven’ stocks, the rally might broaden to other sectors in 2024.

Podcast: US recession risks and a simple wealth-creating strategy

Brandywine Global's Richard Rauch warns of US and global recession risks, Vanguard's Duncan Burns on building a simple, effective investment portfolio, and Peter Warnes on the Australian market outlook for 2024.

Most viewed in recent weeks

7 examples of how the new super tax will be calculated

You've no doubt heard about Division 296. These case studies show what people at various levels above the $3 million threshold might need to pay the ATO, with examples ranging from under $500 to more than $35,000.

The revolt against Baby Boomer wealth

The $3m super tax could be put down to the Government needing money and the wealthy being easy targets. It’s deeper than that though and this looks at the factors behind the policy and why more taxes on the wealthy are coming.

Meg on SMSFs: Withdrawing assets ahead of the $3m super tax

The super tax has caused an almighty scuffle, but for SMSFs impacted by the proposed tax, a big question remains: what should they do now? Here are ideas for those wanting to withdraw money from their SMSF.

Are franking credits hurting Australia’s economy?

Business investment and per capita GDP have languished over the past decade and the Labor Government is conducting inquiries to find out why. Franking credits should be part of the debate about our stalling economy.

Here's what should replace the $3 million super tax

With Div. 296 looming, is there a smarter way to tax superannuation? This proposes a fairer, income-linked alternative that respects compounding, ensures predictability, and avoids taxing unrealised capital gains. 

The huge cost of super tax concessions

The current net annual cost of superannuation tax subsidies is around $40 billion, growing to more than $110 billion by 2060. These subsidies have always been bad policy, representing a waste of taxpayers' money.

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