Retirement savings which were starved during the global recession four years ago are plumping up as the stock market comes storming back.
The bad news, for some, is that this coincides with rising speculation the fattened superannuation industry is being eyed by federal politicians hungry for cash to counter shrinking revenue prospects elsewhere.
Specifically, the generous tax treatment of superannuation money is likely to be reduced for the wealthy in a move which could revive the annual accusations of “class warfare” from the Opposition.
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The Gillard Government has declared its carbon tax won’t be included in the Federal Budget in May - and that’s not a surprise.
The real shock is why we’re even talking about a carbon tax without a debate about broader taxation reform.
There aren’t many Australians who wouldn’t like to pay less tax, but reforming the system goes way beyond that.
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