The federal government could save about A$1 billion a year by changing three unfair tax breaks for older Australians, a new report says.
- Associate, Grattan Institute
Super is the wrong tool to provide an adequate support in retirement for low-income earners. Our research shows top-up measures to help this group are poorly targeted and too expensive.
Both the government and opposition’s proposed reforms to the superannuation system will target generous tax breaks given mostly to wealthy retirees.
Having made a commitment to reduce spending, the federal government will have its work cut out with this year’s budget, which may require revisiting policy ideas that have caused it pain in the past.
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