At least when the unfairly affected sell their mansions, Downsizer Contributions remain available to syphon wealth to super until the family mausoleum calls.
Are the landed gentry really fans of releasing negatively geared assets into the market?
Labor must act swiftly & decisively.
Let well-heeled cry in their pretzels.
Gen Z & Millenials are unlikely to shed a tear, as they struggle to pay rent, pay back HECS, and attempt to build a deposit to enable them to enjoy home ownership…along with whinging cohort of high net worth superannuants
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Are the landed gentry really fans of releasing negatively geared assets into the market?
$3 million super cap, not a hard sell for most.
Let well-heeled cry in their pretzels.
Gen Z & Millenials are unlikely to shed a tear, as they struggle to pay rent, pay back HECS, and attempt to build a deposit to enable them to enjoy home ownership…along with whinging cohort of high net worth superannuants
Superannuation was designed to save for a dignified retirement, but it's being exploited as a tax shelter.
And the absence of indexation just simplifies administration in the early years. It can be added in the future. #auspol
Study's findings on post-tax income, 2018/19-2022/23:
Mid-career working age Australians: $125K
Australians over 60: less than this
Australians over 75: $100K (20% less)