Koro, a 'superfund' didn't lose it's cash, many super fund members (I think SMSF and wholesale/platform ones) invested in something that was not quite squeeky clean and many didn't follow the rules about having a few baskets and counting how many eggs are in them. Often the ones crying on 6.30/7.30 programes are unfortunately the ones that were either greedy, gullible or stupid. Trio was however a fraud and this has been proven I believe. Not having the same legal protection with a SMSF is a risk not often considered on this forum.
The reason you pay more tax is because of the vehicle you have chosen to hold your assets, personal name. If you hold them in a company then 30% tax applies, if it's in super it is generally up to 15%. Your choice.
How is tax on a compulsory payment of SGC a 'loophole'? It floors me.
