well it has been announced now, Labors policy ,....tax the so called rich on their super earnings. What a truly pathetic policy. No doubt it will not affect politicians and public servants because so many are on defined benefit programs.
The only hope is that the required legislation is so difficult that they abandon it like the Treasury told them last time. There are many many questions that have to be solved , but as usual Labor is putting up misleading numbers. Any fund that has has a good return maybe due to a property sale , or a prolific share performance, could end up paying tax on balances as low as $300,000 to $400,000.
Why are we the only country in the world that taxes super on the way in, while its in the fund , and soon if Labor get their way, as it comes out. We are also the only country that messes with the rules every election cycle.
Truly pathetic, and you just know that if they get this done it will be the thin end of the wedge , as they will then creep the limit lower and lower so that more and more retirees are caught.
What a mess.
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