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Talk of a $5M Cap on Superannuation Balances., page-66

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Hittman

3,753 Posts.

346

23/11/22

12:00

Post #: 64939054
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Originally posted by moorookamick ↑

This is a non-issue because Super at present is only protected tax-wise up to $1.6 Mil
This is RW scaremongering ...big time.

IMO the following should be looked at taxwise:
-income splitting via family trusts
-extend CGT from 2 years to 10 years to prevent house flipping.
-death/inheritance duties to close the wealth gap.(Most OECD countries have then including the US & UK)
-flat income tax on multinationals who, under current laws have the ability to transfer pricing and avoid Aus tax.

IMO this would permit the Governnment to lift the Incole tax tax free treashold from $18200 to $40K to benefit all.

(why whinge when you haven't got the solutions ......its the corporate mantra)

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You're conflating 2 seperate issues. Super is generously taxed regardless of amount. Proposal is to say that X amount is sufficient for retirement and any above that should be withdrawn or no longer taxed favourably.
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