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Following the release of Deloitte’s “circuit breaker” on superannuation reform, which estimated that the Budget could save $6 billion per year if the 15% flat tax on superannuation concessions was replaced by a 15% flat deduction in which every income earner would receive the same concession, Pauline Vamos of the Assocation of Super Funds of Australia (ASFA) has spoken-out against the reform. From ABC Radio:
Chris Richardson, a respected economist with Deloitte Access Economics, says making everyone pay 15 per cent tax on their contributions would not only be fairer, but save around $6 billion a year for the budget.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.