Australian Superannuation: The first five Reasons it’s Not Fit for Purpose
By Deep T, Editing Gunnamatta A critical examination of a $4.4 trillion compulsory savings experiment 1. The Taxpayer Is Subsidising Wealthy Superannuants Superannuation contributions and earnings are taxed at a concessional flat rate of 15% — well below most marginal income tax rates. These tax concessions are forecast to cost the federal budget $61.7 The post Australian Superannuation: The…
1. Superannuation contributions and earnings are taxed at a lower rate compared to most ordinary income tax rates, creating significant subsidy for wealthier individuals. This tax concession has cost the federal budget $61.7 billion in 2025-26, close to the $66.2 billion spent on the Age Pension. Those advocating for the protection of superannuation funds are only partially correct, as the wealth within these funds has been accumulated with substantial taxpayer support.
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