Proposed increase to super set to affect wages
How would you feel about giving up a little bit of the money you take home each week and putting it into super?
Both Labor and the Coalition want to increase compulsory superannuation contributions from 9.5 percent to 12 percent by 2025.
Economists at the Grattan Institute say that employers aren’t going to take this extra from their profit… they’ll take it from your wages.
“By the time it’s fully implemented in 2025-26, a 12 per cent Super Guarantee will strip up to $20 billion from workers’ wages each year, or nearly one per cent of gross domestic product.”
Perth LIVE personal finance expert and Partner at the Carbon Group Michelle Maynard joined Oliver Peterson today to unpack what these proposed changes could mean for the household wage.
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