Labor completes super agenda with passage of four billsBY JAMES FERNYHOUGH | TUESDAY, 25 JUN 2013 12:00PMThe federal government's superannuation reform agenda is complete following the passage of four bills through the Senate last night. |
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The government said: "This completes some historic and hard fought reforms aimed at making the superannuation system more transparent, efficient and fairer by stripping away unfair and hidden fees"
So the FOFA levy is about stripping away fees? I'm confused.
Returning the concessional cap to $15000 less than what it was is "allowing those approaching retirement to top up their super when the markets are strong and they need it most"...Who thinks it's better to top up your super when markets are strong..? No-one who knows anything about unit pricing could possibly agree with that statement.
As for "capping tax concessions on super for wealthier Australians to make the system more sustainable for the future"....I understand why the current government might think that because not one of the current caucus have ever had a business that could result in an asset at retirement being worth anything. I pity those business owners who ploughed everything they had into their businesses, risked losing everything, made massive sacrifices along the way to be in a better position at retirement to be told, the tax concessions you thought you had coming have now been stripped away.
Nice one Bill....or was it Four Bills.