Mr Coates said the $3 million cap was “a sensible change” but just “the first step on a long path” to improving a super system which favours the rich and older generations.
This meant young people were unfairly footing the cost of increased public spending in aged care and health as Australia’s population grew older, he said, while retirees shored up savings in their super accounts.
Grattan pays ZERO tax on their $30 million asset base and $6 million of investment earnings from 21/22 so the hypocrisy is stunning. Grattan, unions and Scientology should all start paying tax before retirement savings are attacked again.
An additional tax for people depending on a lump sum with not opportunity to earn any more A brilliant idea What planet do these ‘experts’ live on
More nonsense from the GrattanInst How about closing the loopholes that permit the vast majority of large companies from paying tax? And a tax on offshore credit card transactions? Negative gearing? No need to attack retirees auspol
Yes they are scrambling to raise money to pay for the huge cost of labour’s budgets Why bother trying to get ahead if you get taxed to the max to support this government’s take from the rich and give to the poor policy Just making a dependent person than having to earn it
Stop calling higher taxes savings it’s so dishonest
At last a sound end equitable proposal for super change ✅✅👍🏿👍🏿
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Source: FinancialReview - 🏆 2. / 90 Read more »