Why should we bother making non-compulsory savings to super?
We have recently seen diligent savers who have managed to put away a few dollars be stripped of Seniors Health Card eligibility, meaning significant extra out of pocket costs.
Now we face the threat of a higher GST overnight devaluing our savings by 5%, unless we blow it on an overseas trip or move to Bali. While there is talk of tax cuts or higher pensions as compensation, how does this protect that diligent self-funded retiree who is not a burden on society?
And Labor is no better - threatening to impose taxes on the savings of pensioners.
I look forward to a lot of (offshore) spending in coming years to enable qualify for some of those entitlenments that we are losing.