Super changes 'fair'

It is not sustainable to continue to tax wealthy Australians' superannuation at the same level as everyone else's retirement savings, Superannuation Minister Bill Shorten (pictured) says. A proposal announced by Treasurer Wayne Swan on Friday is for super pensions and annuities earnings greater than $100,000 to be taxed at 15 per cent, instead of being tax free.

It is not sustainable to continue to tax wealthy Australians' superannuation at the same level as everyone else's retirement savings, Superannuation Minister Bill Shorten (pictured) says. A proposal announced by Treasurer Wayne Swan on Friday is for super pensions and annuities earnings greater than $100,000 to be taxed at 15 per cent, instead of being tax free.

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