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 4 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 have ever considered how you could better service your SME clients but lack the knowledge or confidence to do this beyond referring them on, this is a must-attend event for you. Don't miss SME Broker Bootcamp, a jam-packed, free-to-attend, practical workshop. Register today and secure your place at this interactive, flexible, must-attend event.

PROMOTED CONTENT


default

 

more from the adviser
finance education

Breaking News

Asset finance accreditation the next ‘battleground’: CAFBA

CAFBA has underscored the importance of education for brokers div...

signature

Breaking News

Brokers drive origination growth for Prospa

The non-bank’s latest quarterly figures mark a year-on-year gro...

warehouse

Breaking News

Victoria extends commercial rent relief 

The Victorian government has extended its Commercial Tenancy Reli...