''That effectively means tax at the marginal rate minus a 15% rebate , for funds accumulated at concessional rates'' Hi Scholtz, What I was trying to get across was that you paid tax on the withdrawals that you accumulated with the help of tax concessions , on contributions and earnings.
So my top of the tax scales went in at 15% [ except for the surcharge period] , and earnings were at 15c , which again was way below what I would have paid if not in a tax protected entity. Any money , ie contributions , post tax , no tax on withdrawals . But tax on the rest and earnings at 15% in the fund , when it comes out.
If you go back to the original system [didn't last long] . Super in , no contribution tax , no tax on earnings. At retirement : super normal income.
What I'm suggesting brings it as close as I can get it to that original system. Except that you pay tax , with recognition of the difference between the original tax free system and the incredibly complex system that Keating / Costello produced.
The present system is not sustainable unless everyone over 75 gets turned into Soylent Green.
