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The 1.6m is only for the pension. 10% and 15% tax for super is...

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CptAwesome

831 Posts.

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05/08/17

16:22

Post #: 26312988
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Originally posted by asculpeous ↑

That $80000 annual income looks ok on the surface.Unfortunately the Gov changed the gold posts.If you were working your bum off and using super savings to look after kids with a disability -, our views would change.

Like many Govt. decisions they are knee-jerk reactions and not well thought -out decisions based on good research and understanding,but usually vote buying.

The alternative present to us when we last voted in a Fed election was ,I believe from memory, taxing income over $72,000.This was much safer and allowed for market fluctuations.If we have another GFC, then $1.6 mill could easily become $400,000 throwing the "wealthy" onto a pension.....let alone when the inflation Genie comes out of the bottle!

I have no political leanings in making the above comments, but just express disquiet at the poverty of political credibility in a government that should be serving all its constituents.

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The 1.6m is only for the pension. 10% and 15% tax for super is still extremely good. Sapto allows for $32k tax free. The Libs stopped the SG to 9.75%, but they have always hated super.
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