Albo wants to tax 'future you'

One day, you're gonna get caught with some savings

If you want to get ahead in Australia, it will never happen under a Labor-Greens government. Albo and Adam are running out of your money, so now they are coming after ‘future you’.

We’ve been forced to have a large chunk of our money locked away in super funds since 1992. Of the $4.2 trillion currently locked away until retirement, union-controlled industry super funds hold about one quarter – over $1 trillion – of our money. Part of this ends up funding Labor. I explained how over a year ago.

But now Labor wants to double the concessional tax rate on super funds with a balance of $3 million or more (from 15 to 30 per cent), and also to tax unrealised capital gains. Basically, Labor wants to tax ‘future you’.

Writing in the Unfiltered newsletter, Alexandra Marshall had this to say:

And if you’re still thinking of taking the handouts and voting for Labor (or the Greens…) Michael de Percy warns that their new plan is to tax your future. Not only do the Greens want to rob your grave and deprive your children of their rightful inheritance, Albanese wants your retirement savings. ‘Labor wants to double the concessional tax rate on super funds with a balance of $3 million or more (from 15 to 30 per cent), and also to tax unrealised capital gains. Basically, Labor wants to tax ‘future you’.’

My lates in The Spectator Australia, Albo wants to tax future you.

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