As previously stated, Super was never set up to be a tax minimisation scheme for the wealthy!
It was Howard and Costello who made it the way it is now!
Labor are very rightly putting a brake on those with over $3 Million in Super.
There are approximately 23.5 Million Super accounts in Australia currently. When the new tax kicks in next year, there will only be about 88,000 Super accounts with a balance of $3 Million or more. Let them pay more tax.
Further how do you know how anyone else has earned money in their Super accounts? Very presumptious to assume to know how anyone makes money apart from yourself!
