Going forward, how does anyone reaching the 3 million super cap when you can’t make non concessional contributions after 1.9m?

[angelh0809]

@igbinosa23 Still haven't explained how any of this is a removal of subsidy, what subsidy?

 

[igbinosa23]

@angelh0809 Perhaps you should read up on what you are talking about and not ask people to do the work for you

 

[angelh0809]

@igbinosa23

Perhaps you should read up on what you are talking about and not ask people to do the work for you

Perhaps you should know it's indeed a new type of taxation that's never been done before in almost anywhere in the world!

Its basically a dangerous "unrealised" gains tax of 15% on top of the normal/realised gains tax of 15%. Grossly mislabeled as a 30% tax.

But what would you know you arrogant idiot!

 

[naomi567]

@igbinosa23 $550m in SMSF sounds more like protecting assets.

 

[igbinosa23]

@naomi567 Protecting them from tax

 

[veranup]

@kodybricen Over the past 40 years inflation has been an annualized 3.5%. Over the past 30 years super funds have returned an average of 7.8% in their growth option. A 25 year old making 80,000 today, with annual salary growth of only 3.5% and with 7.8% returns will reach 3 million from mandatory contributions alone.

Play around with a compound interest calculator: thecalculatorsite.com

Note that the 1.9m is indexed to inflation while the 3m is not.