Is Super a tax dodge for the rich?

Super contributions are taxed at 30% for those with a taxable income over $250k.

Anyway, the system isn’t perfect but I haven’t heard of a better alternative so happy to stick with the current format for now.

The graph should shows percentiles broken down in increments of 10 but then increments of 5 when it gets to the 90. At a glance it makes the issue raised seem bigger than what it is. Also the people who sit in the 90+ income percentiles have paid so much over the years in income tax, the savings from super would be pale in comparison.

 

Also, the rich will find ways to increase their wealth, with or without Super - even the non rich can do, if the desire is strong enough.

 

Education/training, better/different job, side gig, budgeting, reviewor cut discretionary expenses etc

 

I had a mate who inherited $3M and turned it into $300,000 at best (he recently passed away unexpectedly and I am providing input into the handling of his Estate).

He needed all of these:

 

Yes. super benefits those with wealth. Any tax adviser since 1993 would agree. A must shorter post than above. Super in all its forms is one of the most tax advantaged "schemes" since...1978...not Keating.