Gillard flags end to high-income super tax concessions
Just days after the Federal Opposition committed to injecting certainty into superannuation policy, the Prime Minister, Julia Gillard, has flagged Budget changes to superannuation tax concessions for higher-income earners.
The superannuation changes have been flagged in a speech to be delivered by the Prime Minister today outlining structural cuts aimed at reducing the size of the likely Budget deficit.
In that speech Gillard references not only "tax concessions on super for high-income earners" but also the dependent spouse tax offset and "tax breaks for golden handshakes".
"The dependent spouse tax offset, the tax breaks for golden handshakes, tax concessions on super for high income earners, the millionaires' dental scheme and fringe benefits loopholes for executives living away from home - all gone," a copy of her speech distributed to media said.
The speech is being sold into the media as an "agenda-setter" in what represents an election year.
The leader of the Opposition, Tony Abbott, at the weekend used the release of a policy document to promise "no negative unexpected changes" around superannuation.
Any changes to superannuation tax arrangements in the May Budget will mean the Government has altered the settings in virtually every year since it has been in power.
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