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Do Australia's super tax concessions take from the poor and give to the rich? (www.abc.net.au)

submitted 1 week ago by [email protected] to c/[email protected]

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But in their new estimates, published last week, they say those super tax concessions will now cost the government $59.5 billion in 2025-26, which is $9.4 billion more than they were forecasting in January.

Would be chealer just to ditch Super and pay pensions? Or remove many of the tax concessuons anyway. That horse has bolted though I guess.

Earlier this year, the economist Chris Richardson said our super system was already acting like "a reverse Robin Hood" because it was taking money from poorer Australians and giving it to the rich.

Ahhh

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[–] [email protected] 1 points 1 week ago

It's weird to say that it "costs" the government $x to have these tax concessions. Money you're not taking is not a cost. You wouldn't say it's "costing" the government to not have everyone paying 80% tax.

Ultimately the government does benefit from these super tax concessions by reducing the number of people it has to support in old age. Forcing them to save for retirement through their working lives. But I agree most of the tax concessions go to those who wouldn't need government handouts anyway.