Chris Meddows-Taylor writes: Bernard, your comment about the government’s pig-headed “2007 isn’t in the past” defence summarises it brilliantly. Sadly the debate around superannuation changes assume they all relate to ending wealth creation for the rich. The proposed non-concessional lifetime caps of $500,000 retrospectively dated from 1 July 2007 will impact middle Australia including women and people with an inadequate superannuation account who have planned to include an inheritance or other windfall to give them a decent self-funded retirement. If the IPA is leading the attack on this then something must be (and is) very wrong! Surely the solution is make all changes to super prospective taking effect from July 1 2017? The Government’s take will still be substantial.
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