Before the Howard Govt eliminated tax on super withdrawals, the Australian tax regime on retirement funding was by far the highest in the world. Super contributions were taxed on the way in at 15 and 30% .Profits in the fund were taxed, and then withdrawals in the pension phase were taxed . This was simply a stupid system, and one that ignorant politicians couldn't keep their hands off. It is simply not sustainable to tax super at both ends and at the middle. Either you tax on the way in OR , on the way out, but not both. Now all those socialist politicians that have little or no understanding of what they are about to tinker with again, may be about to nail the final nail in the coffin. Regardless of ones politics , we should annihilate any party that wants to screw us yet again.
