AFR today. by John Daley The AFR Tax Reform Summit last week...

AFR today.

by John Daley
The AFR Tax Reform Summit last week provided a line-up of groups wanting to wind back the tax breaks on superannuation for those on high incomes. Even some in the superannuation industry joined the chorus – much like the turkeys voting for Christmas. What's going on?

Read more: http://www.copyright link/opinion/columns/super-tax-breaks-stop-subsidising-rich-retirees-20150927-gjvrg0#ixzz3myvKCMHr

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Well, the war drums are beating, and gradually building up over the past few months. The masses are being softened up for some serious changes. With Abbott gone, the door is now open.

Interesting, that one of the main discussion items was the limit on contributions. A not unreasonable call.

Secondly is the old chestnut of taxing super income. Would that mean that public sector get taxed at double the marginal rate???? Can't see that occurring. Have to say that unless they legislate 'as at midnight last night' to freeze withdraws, then any attempt to tax income would see a flood of large accounts go overseas.

IMO, changes to super will occur. Be prepared.

Maybe go and become a primary producer, manage the farm, and sit back and take all the tax rorts that the lifestyle delivers.​