Summary: Australia’s superannuation pool is being examined as the government considers the issue of budget expenditure. Bureaucrats see concessional taxes on super as their money, and proposals of changes to super taxes have support from most commentators and economists. Although the government cannot afford another broken promise and the Coalition rank and file may not support raising taxes, we need to be alert to a government attack on super concessions.
Key take-out: The risk of an assault on super is real and very high. Despite being a lazy approach, it has a lot of support.
Key beneficiaries: SMSF trustees and superannuation accountholders. Category: Superannuation.