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.
They’re joking right? Grattan pays no tax on its $30 million asset base and had tax free investment earnings of $6 million in 21/22. They’re in no position to attack people’s retirement savings until they start paying tax themselves. God spare me.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tax superannuation earnings in retirement: GrattanThe Grattan Institute says its proposed super measures would save more than six times as much as the government’s controversial plan to double the tax on earnings in big super accounts. At last a sound end equitable proposal for super change ✅✅👍🏿👍🏿 Stop calling higher taxes savings it’s so dishonest 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
Source: FinancialReview - 🏆 2. / 90 Read more »
Business leaders bracing for a tax-the-rich budgetOPINION: There are growing expectations that Jim Chalmers will be inspired by governments in the US and Canada as he grapples with how to pay for spending increases. Export taxes on coal and gas would produce far more revenue . JimCharmers Budget2023 We need less government in our lives not more taxes. Are we getting value for money for all the spending programs we currently have!? The more we spend the worse outcomes seem to be. He'll somehow manage to flog small business as well. Easy targets.
Source: FinancialReview - 🏆 2. / 90 Read more »