It hasn't been legislated yet, amendments could well be made.
Yes the figure is not indexed, (one amendment that could occur) but is open to be adjusted in future.
Proposed taxing of unrealised gains is the killer, hopefully that is amended too.
I'm watching this like a hawk as it affects me. I'll also still be under preservation age if it is legislated in its current form, I'm trapped and can't move money even if I wanted.
The rest is not too bad, when you look at how they calculate the extra tax, it's not as much as people think, certainly not 15% or 30% that some incorrectly believe.
If the indexing and unrealised gains issue are dealt with, it still leaves Superannuation as a tax effective strategy for ones money.
There will be many reading this thinking, what a problem to have, well over time it will capture more and more people.
Good News & Bad News, page-40403
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