How to make superannuation fairer
Grattan Institute
00:00
Tax-Free Retirement Earnings
Retirees get tax-free earnings up to a limit of $1.7 million a year. That's the balance invested, not the actual earnings. It's going up to $1.9 from one July this year. About 90% of the benefit of tax-free retirement earnings flows to the top 20% of retirees. This is essentially a function of the uneven distribution of superbalances amongst current retirees. The change would make the system fairer for current retirees by reducing the tax breaks flowing to people who don't need them.
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