Not sure that I agree with you there. The change is based around the level of tax paid on profits within super. Govt have deemed that $3m super is more than enough for "normal" people to retire on. Should you have more than that, then you would pay a higher tax rate on profits made within super. Personally, I think that is long overdue. You do realise that the estimate is that it will only affect a small percentage of people (I believe less than 10%).
And whilst we are on that subject, I also believe that the CGT 'free' period of only 1 year is more than generous. Just my opinions.
IMU Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
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