Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Young should benefit from Government saver accounts: Abacus

Staff Reporter 3 minute read

Abacus – the industry body for Australian mutuals – has urged the Federal Government to ensure its proposed first home saver accounts are attractive for young people and lower income earners.

In a submission to the Federal Government, Abacus proposed that the superannuation co-contributions scheme be extended to the first home saver account program to provide a barrier against inflation and to foster a national culture of saving.

“Under the superannuation co-contribution scheme, low income earners are eligible for Government payments up to $1,500 annually,” said Abacus acting chief executive Louise Petschler.

“We put forward options in our submission to link the super co-contributions scheme with the first home saver account program,” she said.

Advertisement
Advertisement

The Government submission also focused on the design of the saver account program, suggesting it should “maximise choice and competition to benefit savers and to provide safeguards to protect risk-averse savers”.

Published: 30-01-08

 

Young should benefit from Government saver accounts: Abacus
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


default

 

more from the adviser
Carolyn Murphy ta Teachers Mutual targets brokers in digital bank launch

Hiver, a new digital bank to be launched under Teachers Mutual, i...

mortgage money house Qld real estate body calls for stamp duty reform

The REIQ has slammed the Queensland government for failing to act...

Alexis Holloway ta Pallas Capital appoints senior credit manager

The non-bank lender has appointed a senior credit manager whose r...