Hot Issues
spacer
Tax Time Checklists- Individual, Company, Trust, Partnership and Super Funds
spacer
SMSFs - Our 'hardest' jobs
spacer
Tax Office reveals adventurous, dubious claims ahead of tax time
spacer
ATO reveals top tax time mistakes, set to contact 1 million taxpayers
spacer
Watch out for charges with incoming GST laws.
spacer
Super savings gap for women stuck at 30%
spacer
‘Wipe the slate clean’: Clients, accountants urged to use new amnesty period
spacer
Statistics for all Australians
spacer
Touch Payroll (STP)
spacer
‘Calm before the storm’: Government proposes 12-month SG amnesty
spacer
Government intensifies cash payments crackdown - Kelly O'Dwyer
spacer
Passive investment companies tax rate still 30%
spacer
Cryptocurrency audits tipped to increase this EOFY
spacer
Australia by numbers – Update
spacer
$2.4m lost to tax scams, ACCC reports
spacer
No GST on digital currency
spacer
Federal Budget 2018 - Overview
spacer
Your Budget
spacer
4 components of our 2018 Federal Budget
spacer
Resources to help understand and implement Single Touch Payroll (STP)
spacer
New rules capture SMSFs trading big with cryptocurrency
spacer
New passive income test for lower corporate tax rate
spacer
Tools to help you manage your financial position are available on our site.
spacer
‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups
spacer
Australia by numbers – Update
spacer
Beware residency rules if moving overseas
spacer
Meaningful tax reform in high demand
spacer
Working holidaymakers and tax returns
spacer
Single Touch Payroll – 1 April 2018 Action
spacer
Property investors on notice after ATO spots false claims
Article archive
spacer
Quarter 2 April - June 2018
spacer
Quarter 1 January - March 2018
spacer
Quarter 4 October - December 2017
spacer
Quarter 3 July - September 2017
spacer
Quarter 2 April - June 2017
spacer
Quarter 1 January - March 2017
spacer
Quarter 4 October - December 2016
spacer
Quarter 3 July - September 2016
spacer
Quarter 2 April - June 2016
spacer
Quarter 1 January - March 2016
spacer
Quarter 4 October - December 2015
spacer
Quarter 3 July - September 2015
spacer
Quarter 2 April - June 2015
spacer
Quarter 1 January - March 2015
spacer
Quarter 4 October - December 2014
Super savings gap for women stuck at 30%

While the gender gap in superannuation is improving, an economic index indicates women are still retiring with superannuation balances 30 per cent lower than men.

         

 

While the gender gap in superannuation is improving, an economic index indicates women are still retiring with superannuation balances 30 per cent lower than men.

The Financy Women’s Index for the June quarter indicates that women are still facing a gender pay gap of 15.3 per cent and a superannuation savings gap of 30 per cent at retirement age.

Financy Women’s Index is based on data from over 700 annual company reports (as well as monthly, quarterly, biannually, and biennially) and methodology from the Australian Bureau of Statistics, the Australian Securities Exchange, the ATO and the Australian Government Department of Education and Training.

Australian Super group executive Rose Kerlin said further work is still needed in the areas of equal pay, equality of opportunity and more equal sharing of family responsibilities to close the gap which results in too many women having insufficient savings to fund a comfortable retirement.

Dianne Charman, chair of AFA Inspire, said that the fact that many women work part-time is having a long term impact on their superannuation.

“The Financy Women’s Index importantly reminds us to work with women to raise awareness about how even a small contribution to superannuation will, over the long term, put women in a better position.”

Association of Financial Advisers chief executive Phillip Kewin said the latest Financy Women’s Index results indicate that progress towards creating positive and meaningful cultural change in the financial wellbeing of women in Australia is happening slowly.

“It is disappointing to see that, at 26.1 per cent, the financial and insurance services industry has the highest pay disparity of all industries,” said Mr Kewin.

 

www.smsfadviser.com
Miranda Brownlee
27 June 2018