![]() They could support a rise in the age pension to provide for a dignified retirement. Ross Hudson, Mount Marthaĭignity in retirement If the opposition is sincere in its rejection of modifications to tax concessions for just 80,000 of Australia’s richest people, I look forward to hearing their proposals for making retirement dignified for the rest of the population. Labor has simply taken a step towards redressing this mistake. The concessions have effectively taken money away from the age pension pool and put it into the pockets of people who don’t need it. An unintended side effect has been the disproportionate distribution of the tax concessions. Super was designed to provide a retirement income for Australians and take pressure off the pension system. Rod Wise, Surrey HillsĪ fix for broken system As much as the Liberals and other pro-Liberal commentators may support the 0.5 per cent of Australians who will be affected by Labor’s super changes, a little perspective is needed. The prime minister’s repeated reassurance that 99.5 per cent of taxpayers will be unaffected by the changes suggest it is the latter. A lot of people will be wondering, is that it? It is hard to see how the government’s stated goals of achieving greater sustainability and equity are much assisted by modest changes to be introduced in 2025.Įither this is just the first step in a series of much larger reforms the Albanese government plans, or this is not the bold, nation-changing government many people hoped it would be. Not the bold change many hoped for After generating a lot of attention for over a week, it seems Jim Chalmers’ important conversation on super is over. How can this be fair? Why should young people who have no hope of buying a home – or even finding a rental they can afford – pay more tax because superannuants like us pay little or no tax? How can we live in a society where some older women are living in cars, while others pay no tax? The only problem I have with the government’s changes is they do not go far enough. If we held those balances outside super, or earned the same income from working, we would be paying tax. We didn’t expect what has happened since – despite taking out our required pension amount every year, our superannuation balances have grown, not shrunk, partly due to the tax treatment on revenue. We worked and saved hard for our retirement, and we are grateful for our super balances. ![]() We are some of those fortunate enough to be impacted by the changes to superannuation tax – and we are very supportive of the changes (“ Albanese on track to seal Senate deal on super tax”, 1/3). No attachments, please include your letter in the body of the email. Credit:Illustration: Andrew Dyson To submit a letter to The Age, email Please include your home address and telephone number.
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