I watched part of Chris Bowen's speech at the press club . I think it's on Iview for anyone that wants to watch it .
He didn't mention anything about income outside of super above the 75k . I wouldn't be surprised if they grossed it up .
The question was asked about how they anticipated financial behavioural change to the proposed new rules . The answer was that they didn't think there would be much .
Clearly the government(s) want to get their hands on peoples super and this is their way of doing it . For the younger people reading this , don't focus on the baby boomers supposedly getting a free kick ( which is a bit of a media beat up imo ) . These super rules will be locked in for all future retirees going forward , even the 20 year olds . Be careful what you wish for .
This appears to be part of a new tax reform . It's a pity they are not looking at everything else as well . Obviously these changes only effect a smaller part of the voting population ( at the moment ) so it makes sense to lock the changes in early .
I must say that I sort of agree with the idea of people funding their retirement and not being able to blow the money at the last minute . So having some sort of limit to how much you can spend per year makes sense to me . If you die and there's plenty left over then it goes to your estate , tax free I assume ?
