22 Jun 2024 12:14 PM | Jean Murray (Administrator)

Australia Institute research has found women and low-income earners are being left behind by a superannuation tax concession system that disproportionately benefits high-income earners and men. 

This paper shows superannuation tax concessions help high income earners avoid tax, exacerbate income and gender inequality and come at a huge cost in foregone revenue.  Women retire with a super savings gap of nearly 25% compared with their male counterparts. Superannuation tax concessions are forecast to overtake the cost of the age pension in 2045-46. Removing the tax concession for both super contributions and earnings from the top 10% of earners would save more than $12 billion every year.


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