Future tax concessions for super savings

In our last "Articles" (click here to read to previous article) we canvassed the views of the major political parties on superannuation issues. The convergence of political party views around the desirability for tax concessions for superannuation savings may have been partly the reason this topic didn’t gain traction as an election issue.

Labour is now seeking the best way to provide a 6% tax advantage on superannuation contributions for all savers, not just for those in the top tax bracket. This would be a material and desirable encouragement to long- term savings.