TheCathyWilcox

Comfort.

My @smh @theage cartoon.

May 29 at 9:34pmWeb
Show threadMark NottinghamMay 29
@cathywilcox The problem is that it's not indexed. When today's 20-somethings retire, this will hit them hard -- in other words, this is just another example of the old stealing from the young.
Show threadlucie digitálníMay 29
@mnot @cathywilcox so, no different from marginal income tax rates. They should probably both be indexed, but future governments will be able to adjust the threshold, as happens fairly regularly with tax rates
Show threadBernard SheppardMay 29

@mnot @cathywilcox the threshold - if indexed - is reasonable (50% above the indexed TBC). The taxation of notional gains that may never be realised is dumb. I would be happy to pay it if it were indexed and based on realised gains, or unrealised losses were refunded, rather than held in credit, possibly never to be utilised.

The fact that my 20-something kids will pay it with nothing more than minimum super guarantee contributions shows that the lack of indexation is bad policy.

Show threadBrett MasonMay 30
@BernardSheppard @mnot @cathywilcox https://theconversation.com/actually-gen-z-stand-to-be-the-biggest-winners-from-the-new-3-million-super-tax-257450
Actually, Gen Z stand to be the biggest winners from the new $3 million super tax

Rather than being the biggest losers from super tax rates not being indexed to inflation, younger Australians are the biggest beneficiaries.

The Conversation