It was inevitable. Here comes the ALP after our super.
The idea of a $5,000,000 cap on super is a trick. It won't be indexed. This is the start of making super "needs based". Few here will remember the process by which savings in the previous Australian contributory scheme Pension Scheme were taken. History repeats.
The idea of a "purpose test" is another trick. We contributed to super on the basis of the rules at the time. We considered our own circumstances against those rules and acted accordingly. Now the rules will be continuously changed against a vague and rubbery definition of purpose.
I have a handicapped child and invested in super not only for my retirement but for my adult dependent's future, as allowed at the time. Wonder how that purpose will go?
Every successive government raids super. Can't the thieves just leave it alone?
