The idea that superannuation tax concessions are costing the government more than the Age Pension is based on bad analysis, according to Mercer, which found that concessions will actually save taxpayers in the long run.
The government’s retirement income review is being told our current tax and benefit treatment of retirement incomes is a mess.
Asked to conduct an independent review of Australia’s retirement income system, the panel appointed by treasurer Josh Frydenberg reported on Friday that it was all tied up with the family home.
Variations in personal circumstances show that a uniform rate of SG cannot be effective in targeting adequacy for all. However, we must choose a suitable rate – one that provides adequacy for most while not being excessively generous to too many.
