ABC’s The Business last night ran an interesting segment on the unfairness of Australia’s superannuation settings, which have seen massive tax concessions flow to the top income earners, bleeding the Budget dry.
One interviewee, a retired accountant and self-managed super fund (SMSF) member, describes the current system as an “obscene gross inequity”, and he is joined by the Grattan Institute’s John Daley, who provides data showing that around 50% of super concessions flow to the highest income earners.
