ALP outlines superannuation tax policy

Why bother trying to save for your retirement if, when you get there, stupid policy changes by a government, although in denial of a budget crisis and hell bent on continuing their spending frenzy, decide to cut you off at the knees?

Does Shorten think that those individuals who he's now targeting, haven't paid their fair share of taxes along the way?

While you are at it, maybe the independent parliamentary budgetary office can do a costing on what the ridiculously over-generous parliamentary retirement entitlements cost the tax payer every year...start there.

Our illustrious SA State Govt workers get the option to salary sacrifice as much of their wage into super as they wish avoiding the annual $30k and $35k concessional contribution cap (replaced with a $1.355m lifetime cap). How much is that costing in lost taxation revenue?

Why hasn't the media exposed that rort for what it is?

Make sure your own back yard is neat and tidy before you venture into someone else's.

Naturally the ALP will continue to use superannuation as a diversion from any consideration or discussion on raising the GST and the its coverage. Far easier to hit a smaller target group of self-funded retirees and small business owners who never could afford any superannuation until they sold their business' rather have a rational discussion about an across the board equitable tax increase.

If NZ can raise the GST to 15% and make provision for relief to lower incomes to offset the impact why can't we?

Apart from that, $1.5m in super for a retired 65 year old with a 30 year life expectancy is unlikely to be enough to keep totally free of the age pension, which at its current top rate of 33K would need in excess of $1m to cover it.

I presume that Bowen and Shorten's tax- payer funded superannuation pensions will also be subject to exactly the same regime - now that WILL raise some revenue !