A recent article posted by Financial Planning Association of Australia (FPA) has stated they made a submission to the Federal Government regarding the 2015-2016 Budget. FPA identifies key policy issues that need to be addressed in order to ensure Australians have a solid financial future and access to financial advice for retirement.
Key priorities that the FPA called out on its submission are:
- Encouraging savings culture to Australians’ retirement preparedness to reduce reliance on the social security system.
- Improving access to financial advice for those Australian who are most in need of assistance in managing their financial affairs,
- Removing inconsistencies in the tax system.
CEO of the FPA Mr Randall, said the recommendations are inline with the FPA’s future ongoing goals. The recommendations will ensure Australians have a strong financial future based on financial knowledge from experts. It is important for Australians to understand the benefits of superannuation and have access to financial literacy to maintain consumer protection.
For an overview of the budget so far see Budget 2015. What are your thoughts on the budget so far, we’d love to hear from you!