the future of superannuation: unpacking the proposed $3m limit on favourable tax concessions
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The FSC Modeling Is Funny Because the Numbers Never Lies In
The financial services council released a media release, and they gave some modeling. A 25-year-old IT professional earning $100,000 with a current superbalance of $35,000 would reach the 3 million threshold by the time they retire at age 65. It went on to say in the FSC projections that basically the number of people affected at retirement at the age of 60 under 30 is 204,000 or 5% of the population.
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