Think Tank Calls for Super Tax Breaks to Be Whittled Away

Think Tank Calls for Super Tax Breaks to Be Whittled Away
Australian dollars in Sydney, on Jan. 15, 2016. AAP Image/Joel Carrett
Updated:

The Australian government must make radical changes to superannuation to deal with future budget shortfalls in defence, aged care, and the National Disability Insurance Scheme, a think tank has said. This is despite Prime Minister Anthony Albanese’s refusal to commit to anything of this nature.

Grattan Institute Economic Policy Program Director Brendan Coates says superannuation tax breaks cost the federal budget $45 billion (US$29.9 billion) a year, which is around two percent of the country’s GDP, and will soon exceed the cost of the aged pension, according to a new report (pdf).
Victoria Kelly-Clark
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Victoria Kelly-Clark is an Australian based reporter who focuses on national politics and the geopolitical environment in the Asia-pacific region, the Middle East and Central Asia.
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