Thursday, February 07, 2013

And Yet More Proposed Changes to Superannuation

Turns out the government has decided to abandon the idea of taxing distributions from larger superannuation accounts. The latest idea they are floating is taxing earnings of larger accounts. But the threshold would be much higher than $800k. This after destroying further the confidence of investors that superannuation payouts won't be taxed. And of course, this further complicates the system. Probably this won't happen because there is no chance I think that this government will be re-elected in September. Of course, none of these changes applies to the huge superannuation benefits that members of parliament receive. Those should definitely be abolished.

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