In this episode of the Daily Financial Services News Wrap, Paige Estritori discusses key issues impacting the financial landscape in Australia. A proposed superannuation tax reform, targeting the unrealized capital gains of balances over $3 million, is causing concern for wealthy retirees, with debates ongoing. In international news, President Trump is reconsidering his decision to dismiss Federal Reserve Chair Jerome Powell due to disagreement over interest rate policy. Locally, the Climate Change Authority warns the cost of extreme natural hazards may skyrocket to $8.7 billion annually by 2050 without action. Half a million Australian homes are at risk of becoming uninsurable in the next five years due to escalating flood risks. Additionally, a recent study by the Australian Retirement Trust indicates changes in superannuation could significantly increase retirement savings, particularly for young adults.
