Tax uncertainty in super remains
New research conducted by the Association of Superannuation Funds of Australia (ASFA) has sent a strong warning to the Federal Government not to lift taxes on superannuation.
The research, conducted for ASFA by former Labor researcher Tim Gartell's Auspoll, revealed strong resistance to the Government trying to leverage superannuation for revenue purposes.
Gartrell said the data contained a strong message for the Government that it would "not be rewarded for dipping into super".
In a further key finding, the research revealed that people had little confidence the Government would not alter the taxation playing field for super. Asked whether they believed the super regime would be the same today as when they retired, a significant majority said it would be changed.
Gartrell said there was simply little confidence that super tax arrangements would be the same when people reached retirement age.
Not surprisingly, the research also revealed strong resistance to any raising of the superannuation age to 67.
Gartrell said these findings contained key policy messages for the Government.
The good news for the superannuation industry from the research is that a majority of respondents remain confident in their funds and are cautiously optimistic about future returns.
AUTHOR
Mike Taylor
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