A shining victory for super holders

The Coalition's tax decision is a triumph for those over 60 that highlights the increasing influence of Australian superannuants.

The Australia superannuation movement has had the most enormous victory. Any person aged over 60 who classifies their super funds as being in “pension mode” will have no tax levied on their investment income. They will be required to pay a minimum pension that rises with age, but that pension is also tax-free.

That decision, which comes amid a wide-ranging government audit of taxation, was described by Joe Hockey as “drawing a line in the sand”.

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