Hittman, there is a big difference between taxing somebody now when their salary is paid into their bank, and taxing a contribution tax which is 15% and 30% depending on income when they don’t get to receive it for up to forty years or more. By then it could be worth considerably less. The compound effect alone of this tax mathematically is greater than the tax on present day salary. Incidentally this magnifies if you are on a higher salary and are paying the 30% contribution rate. It might not even be constitutional to have a contribution tax . Anyway , as I said ,....why not do as many other countries do and just tax super once at the pension stage at normal rates. Simple, no concessions , no politics of envy . All this be as it may, any political party that decides to meddle once more will pay a heavy price.
