Government looks after own
Top marks to Robert Gottliebsen for highlighting the structural flaws in Treasury's methodology used to measure the superannuation tax expenditures. This approach is proof of Treasury's hostility to tax assistance to private sector superannuation, despite the fact that Treasury officers get access to costly and generous unfunded indexed pension benefits.
Worse still, Treasury does not reveal the full extent of the tax expenditures built into its own and its bosses' pension benefits. Treasury estimates the 2012-13 cost to be only $540 million. This is its estimate of the cost of the 10 per cent tax offset provided after age 60 to retirees receiving taxable pensions.
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