Hello Chasers,
There has been a lot of media hype in the last week or two regarding a new tax on superannuation funds.
And this has been partially confirmed by the Treasurer who has stated that locked up in superannuation are concessions equal to the total current expenditure on the aged pension.
They are reporting that there are many wealthy individuals with in excess of $5 million in their superannuation funds who have used the current rules to amass these balances using the concessions given to superannuation.
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