AUSTRALIAN STOCK REPORT MARKET VIEW: Financial sector benefits from federal budget
Announcement posted by de2 Communications 04 May 2016
“Challenger Limited is going strong and outperforming the market today as it looks to benefit from the federal budget,” said Anthony D’Paul, chief executive of Australian Stock Report.
“Whilst there wasn’t a call made on retirees having to put more money in capital preservation products, there was still some incentives,” he said.
However D’Paul noted that tax exemptions on earnings in the retirement phase have been extended.
“Tax exemptions on earnings in the retirement phase have been extended to products including deferred lifetime annuities effective 1 July 2017,” said D’Paul.
“This should provide further incentives for people to use Challenger products,” he said.
According to D’Paul, “This tailwind should add to the business flow they are currently receiving from platforms such Colonial and industry super funds,”
“This further strengthens Challenger's outlook and it remains one of the standouts in the financial sector space,” he added.
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