Monday, December 03, 2012

Simpler super. Letter of the day

It's in today's Financial Review:

"Amid Treasury's concerns about the lost revenue from superannuation tax concessions, it would be useful to consider an alternative approach. About 80 per cent of pensionable-age Australians receive at least some age pension. The budget would probably be in a better and more predictable position if means testing of the pension was abolished, along with all superannuation tax concessions. All employees would get a 9 per cent pay rise and would be responsible for providing for the lifestyle they want beyond the basic aged pension."

Marc and Maria Sarossy Essendon, Vic
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