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#superannuation

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Thousands at risk of losing their super post First Guardian collapse
By Nassim Khadem and Mackenzie Colahan

There are about 6,000 Australians who stand to lose $590 million invested with First Guardian following its collapse, as ASIC takes court action against its directors and promoters.

abc.net.au/news/2025-07-04/sup

ABC News · First Guardian collapse leaves thousands at risk of losing their super, as ASIC freezes director assetsBy Nassim Khadem

New ANU research reveals that households with super balances over $3 million—targeted by Labor's proposed tax—hold an average of $3.2 million in additional assets outside super and their family home. These households possess 12 times the wealth and over 2.5 times the disposable income of other Australians. Fewer than 1% may face challenges in paying the tax.

#auspol #inequality #superannuation #SuperannuationReform

theguardian.com/australia-news

The Guardian · Fewer than 1% of households with multimillions in super could struggle to pay Labor’s tax, study findsBy Patrick Commins

Australia spends $22 billion annually on superannuation tax breaks for the wealthiest 10%—enough to fund dental care under Medicare. Yet, media narratives often frame reforms as threats to inheritance, sidelining public interest. Greg Jericho exposes this imbalance:
#auspol #superannuation #medicare #taxreform
theguardian.com/business/grogo

The Guardian · Super tax debate highlights everything wrong with Australia’s media and economic systemBy Greg Jericho
Continued thread

An Australian super fund has been hit with a $10.5 million penalty for greenwashing.

The Federal Court found Active Super, formerly known as Local Government Superannuation Scheme, misled members and potential members by saying it had eradicated investments in gambling, coal mining and oil tar sands.

The fund also claimed to have eliminated Russian investments following the country's invasion of Ukraine.

9news.com.au/national/active-s

Justice David O'Callaghan found that between February 2021 and June 2023, Active Super actually held investments in these types of assets, including coal miners Whitehaven Coal and Coronado Global Resources. #greenwashing #auslaw #auspol #superannuation

9News · Super fund slapped with $10.5 million greenwashing fineBy Poppy Johnston