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The double standards within Australian superannuation

Tuesday, August 30, 2016

The co-writer of the brilliant Yes Minister series, Anthony Jay, passed away this month, aged 86. No doubt he would have loved to have written a script based on the current Australian superannuation ‘reform’ debate.  

First, watch this short clip about how bureaucrats control their ministers. Hilarious!

After watching it, you’ll understand the mess we are in. Robert Gottliebsen (The Australian) this month exposed the hypocrisy and duplicity of a government led by the nose by self-serving top public servants.  Judith Sloan (The Australian) also had something to say on the same subject.

In essence
  • the government wants to increase superannuation taxes on higher income people (increasing their tax by $6 billion), and reduce superannuation taxes on some lower income earners to have overall increased taxes of some $1.3 billion.
BUT
  • we now know there’s a big group of top public servants and current and former politicians who are on a superannuation tax gravy train ripping off the community.
These top public servants control policy but have protected themselves from the higher taxes they impose on the rest of the community. And the Federal public servants’ superannuation scheme is adding $6 billion a year to Australia’s tax burden!

The Senate should totally reject the new superannuation taxes until the government comes back with legislation to bring all public servants’ superannuation on to the same arrangements it expects everyone else to follow.

And more government duplicity!

Last week ICA Executive Director Ken Phillips exposed the duplicity of government through its having one rule for itself and another for everyone else in terms of the application of the new unfair contract laws.

We wonder what would Groucho Marx say? Here’s his take on how to understand contracts. We challenge you not to groan while you laugh!

Nonetheless, the ACCC has given some helpful guidance for big businesses (but not government!) so they can check their unfair contract compliance.

 

Comments
Anonymous commented on 05-Sep-2016 06:17 PM
We should not be surprised by the superannuation for ex-MPs and public servants. George Orwell predicted this in Animal Farm 70 yrs ago !!

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