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The ALP is coming for your super, page-2

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JCoure

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20/02/23

08:45

Post #: 66340365
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Originally posted by bacci: ↑

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?

bacci

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Super is like a tax. they should regard the tax in AUstralia not at 47% but 57.5% to include the compulsory superannuation contribution.

All tax rates in Australia are far too high.

Australia is one of the highest income taxing countries in the world.

57.5% as a top marginal tax rate is ridiculous.

Last edited by JCoure: 20/02/23
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