"Not sure that I agree with you there."
Plese tell me what you don't agree with!!
I have no problem with the removal of Government subsidies from those who don't need them or shouldn't have them, but I did not mention that. What I did mention is that I disagree with the long term reduction in superannuation to the whole country. Are you one of those (like Treasury) who simply do not understand (or have no regard for) the long term effect of compounding. An effective average reduction in real value of 1.5%pa will see the real value of superannuation halved in roughly 46 years, very similar to the effect CPI indexation has had on Medicare benefits.
People starting work today (at 20 say) turn 65 forty five years later - should they have their upper limit halved. Already it is designed to have their maximum pension halved, which means they will all be paying a 15% tax on half their living income.
IMU Price at posting:
13.3¢ Sentiment: Buy Disclosure: Held
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