Well finally gov't can't help themselves, now Labor wants to...

Well finally gov't can't help themselves, now Labor wants to impose an exit tax on super accounts 'nearing' $1M (whatever that means), then it'll be $500K, then $50K. It's important to have funds outside of super. $1M sounds a lot but when you have to live off it for potentially 20-30years it's not that much, and then they wonder why people structure their finances to ensure they get a pension? I was quite happy to look after myself and not rely on a pension but I'm wondering if I'm being played for being self sufficient. Cash it all in before it becomes L A W, remember that little ripper of a slogan!

http://www.theaustralian.com.au/business/wealth/federal-government-considering-exit-tax-on-1m-super-balances/story-e6frgac6-1226565825375