If Australia has an Achilles’ heel it’s the high level of household debt that has accompanied surging home prices over the last 30 years. Of course, in the absence of a major trigger for debt servicing problems – either from a surge in unemployment or a surge in interest rates – it hasn’t so far caused a major problem for the economy.
With the end of financial year (EOFY) 2022 just around the corner, it’s crucial for business owners to know about soon-to-be-implemented changes in Australian super funds.
Come 1 July, companies need to be prepared to address superannuation guarantee (SG) modifications to ensure they remain compliant.
Usually share markets are relatively calm and so don’t generate a lot of attention. But periodically they tumble and generate headlines like “billions wiped off share market” & “biggest share plunge since…” Sometimes it ends quickly and the market heads back up again and is forgotten about. But once every so often share markets keep falling for a while.