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super needs changes says Morrison, page-3

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baxtermcfaxter

6,204 Posts.

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27/10/15

11:30

Post #: 16261037
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Originally posted by aimone ↑

"A Deloitte Access Economics report said a flat rate tax concession of 15 cents in the dollar for superannuation savings could raise about $6 billion in government revenue.

The report said existing concessions give big breaks to high-income earners while disadvantaging poor people.
Chris Richardson from Deloitte said the existing concessions are unfair and need to be simplified.

"You could give everyone the same tax advantage out of a dollar going into super a concession of 15 cents in the dollar whether you are a prince or a pauper, and at the same time doing that would generate a reform dividend of about $6 billion a year," he said."

seems reasonable in the first instance!

soon the total personal tax take will equate to the amount paid out in pensions, according to the government!

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yep , very uncomplicated and simple for the average punter to understand
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