The Australian superannuation system is only set up for the benefit of the superannuation industry itself and the 20% of the wealthiest individuals, yet all the Australian citizens have the safety net of the age pension. So why is the government providing the rich with such huge tax concessions?

If the government scraps all the tax concessions for super, and scraps the means test of the age pension, the government could quickly wipe out the deficit because the tax concessions for super contributed largely for the deficit.

Reply to article

For original story, Click Here.