“You’ve got a pension going up to $1.9 million in assets – so that’s the tax-free pension.
“Above that, you go into a 15 per cent accumulation, and above $3 million, you go into a 30 per cent tax bracket, all taxed on income.
Source: News Formal (newsformal.com)
If the ATO can work out the 15% tax on super income on balances above $1.6m, what’s so hard about doing a 30% calculation on super income on balances above $3m?
skynews supporting the poor millionaires as expected. super
It’s a disaster for every aspirational Australian. Not so much those who rely on handouts.
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