the debate on the govts super tax on balances over $3Mn rages on.
yes you're angry. your convenient tax avoidance scheme is coming to an end.
I'm tempted to say I would feel the same if I'd done what you have. but I believe in paying all due taxation as such is what enables a nation to function and community services to be delivered as well as govt policies being implemented and maintenance of business conditions are able to be kept in a tolerable state which enables productivity and growth of investment.
the Business on ABC (LINK). interviews Robert Breunig, a professor at Australian National University, in a 10 minute vid, its also written so you don't have to watch. he explains succinctly, clearly what the tax reform is and why and what rationale is involved.
"We've got people amassing now tens of millions of dollars in superannuation, which will generate millions of dollars of annual income for them. That's well beyond what we think is reasonably required for retirement."
