[BITList] The great top off by Malcolm Trumble's National and LNP Government

[John Feltham]

Retirees over the age of 60 can have up to $1.6 million in super and pay absolutely no income tax on the investment earnings the fund earns.

Think about this. A retiree, earning $60,000 a year from a super fund pays no tax at all.

Compare that to a 30-year-old, earning exactly the same amount through a wage, who racks up an $11,047 tax bill.

Then add in a Medicare levy of $1,200.

This is all LNP Government Policy.

In 1990, 60 per cent of low income youngsters owned a home. 

That's now plunged to 20%. Again this is LNP Government Policy 

And then there is the great dividend imputation tax lurk - brought in by, wait it…. The LNP Government of John Howard.

Retirees with super balances of less than $1.6 million have zero taxable income on investment earnings.

http://www.abc.net.au/news/2018-03-19/how-the-tax-system-slugs-australian-youth-ian-verrender-analysis/9561726? <http://www.abc.net.au/news/2018-03-19/how-the-tax-system-slugs-australian-youth-ian-verrender-analysis/9561726?>

So, who is doing all the lifting and leaning?


ooroo



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