12 May 2012, The Australian (subscription required)
Labor's budget strike on wealthy Australians has opened a hornet's nest of inequity, as politicians, senior public servants and judges are spared the full force of changes that will raise $2.5 billion from superannuation.
The Gillard government scrambled to clarify its tax plans late yesterday as experts slammed the measures for hurting workers trying to save for their retirement without imposing the same penalties on others.
Daryl Dixon, Executive Chairman at Dixon Advisory comments, "What I can't believe is that they were silly enough to introduce it. It's been an inequity since 2007 but it's been made worse by the reduction in the cap from $100,000 to $25,000 and made worse again by reintroducing the surcharge. If you're going to do it, you have to treat all super fund members the same way, including defined benefit fund members."
Read the full article: MPs' super tax dodge slammed (The Australian subscription required)
concessional contributions cap
defined benefit super scheme
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