The $10 billion tax-free gift to retirees

01-Apr-2015 #Globalwealth Source: The Australian

Many experts believe that Australia’s generous superannuation concessions need to be reviewed since they are being used by some for estate planning rather than providing for retirement. A new research reveals that about 24,000 of the richest superannuation holders, each with more than $2 million in their ­accounts, are receiving about $5.2 billion in tax-free income every year.

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