Labor is coming for your super, page-106

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Grant64t

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06/12/21

21:35

Post #: 58112897
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Originally posted by Fanboi: ↑

Super was around long before it was made compulsory to the masses by Keating and Co. It was mainly used by the professionals i.e. Doctors Lawyers Accountants. After the wage explosion of the 70's due to the inflationary pressures built up by the "oil crisis" it was discovered that Australians were not great savers. Projections of pension cost blowouts into the future was enough for our political class (Who had/have very healthy retirement benefits) that Australians would benefit if the head count also had Super as part of their Earnings. This 9% cost was a direct impost on Australian Businesses of all sizes from the introduction point. It is not surprising there would be some pushback from this group. The Super scheme has changed almost yearly in the last 30 years so I guess that will continue to happen. Governments who have grown large along with a bloated Public Service paid for by the producers through tax payments will always be looking for ways to rake money from this sector being careful to maintain there own position. The 9% has grown and the Construction workers are at least at 12% and the Uni workers (Deakin) at 15%. This is all only possible if Taxation Reform (Increases) are sustained. Dog chasing its tail really. Nevertheless the Super regime has stood many Australians in good stead moving forward.

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Yes it may come as a shock but Superannuation was around way before the likes of Hawke & Keating reared their heads into Politics

Superannuation beginnings in Australia, dates back to the 1940's
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