Superannuation, the ultimate government cash cow?
Soon after coming to office in 1996, the Howard Government introduced a superannuation surcharge for contributions from higher income earners. It’s reintroduction is currently off the agenda (according to The Australian), but Labor is currently considering the following measures (below, again from The Australian).
Linking the contributions tax to a worker’s marginal income tax rate would, in effect, be the same as the Coalition’s surcharge, but Labor may go further, hitting income from super as well.
