It’s already an issue - a lot of people hit their super, then lump sum cahout. Go on a trip, buy a house, go on a general splurge and blow the lot…then turn around and go “pension now please!”
I can’t really fault some people, it’s the one time in their life they have enough money to live a dream, but it really is taking the mickey.
So a good thing would be to cap the lump sum, or even better tax the living shit out of it. You keep a break on the regular payouts, but a lump sum gets carved up.
Taleya@aussie.zone 2 days ago
It’s already an issue - a lot of people hit their super, then lump sum cahout. Go on a trip, buy a house, go on a general splurge and blow the lot…then turn around and go “pension now please!”
I can’t really fault some people, it’s the one time in their life they have enough money to live a dream, but it really is taking the mickey.
So a good thing would be to cap the lump sum, or even better tax the living shit out of it. You keep a break on the regular payouts, but a lump sum gets carved up.
No1@aussie.zone 2 days ago
Yeah, you’re right on that. I had in mind those with just enough super to get by, then if the tax concessions are wiped out, they would be in trouble.
I’m OK with caps on all sorts of things - as long as they are indexed or reviewed annually/regularly. None of this bracket creep bullshit.