07-08-2025
How Wealthy Savers Are Preparing for the New Super Tax
Good morning, it's Chris here in Melbourne with all you need to know ahead of the weekend. We'll be keeping an eye on the shares of our embattled stock exchange operator ASX today following a rough ride on Thursday as competition and regulatory issues hit home. But first...
Today's must-reads:
• Super tax scramble
• Interest rates podcast
• ChatGPT now chattier
Wealthy Australians are looking to restructure their finances ahead of a proposed tax hike on super balances over A$3 million, with strategies like trusts and insurance bonds gaining traction. The looming 15% surcharge — on top of the existing 15% — is spooking clients and prompting wealth managers to prepare for what could soon affect a growing share of retirees.
Our main stock exchange operator has seen better days. ASX shares tumbled almost 9% yesterday — the biggest drop in two years — as US rival Cboe moves to break its grip on local listings and regulators intensify scrutiny. A bungled market announcement and rising probe-related costs added to mounting pressure on the embattled bourse.
