Irks - not a tough enough word.
Problem was that people were loading up super, retiring early- taking lump sum, spending it and returning to pension and having other hidden funds from family members etc all while going into retirement accommodation at cheapest entry. . It in theory was to stop this from my memory.
Frustrating beyond belief are super changes . I don't think legislators realise that some families made a massive effort to place $ in elderly family members super knowing it would be able to be drawn but then the rules change and change again. It was done to secure their lifestyle , be as tax efficient as possible and to lock funds away for a short period not to be trapped. I don't think it is understood that people actually borrowed to get up to max super contributions and fear in the future there will be more restriction. It has all got very complicated unfortunately.
Super and trusts are now all parts of estate planning so I well expect a form of death duty in the future ( probably with min initially not to upset the majority) and possibly a $ cap on PPR GCT exemption. All easy soft targets for govt.
