Support high for cutting super tax concessions: Treasury
Submissions to the Tax White Paper broadly support reducing existing superannuation tax concessions, according to analysis from Treasury.
In an address last week, Treasury official Roger Brake said superannuation was one of the top issues mentioned in submissions to the government’s Tax White Paper.
Others included the GST, income tax and capital gains tax.
Collectively, the submissions indicate there is broad support for reducing existing superannuation tax concessions, but there is no “clear agreement” on how this should occur, Mr Brake said.
This follows speculation that work on the Tax White Paper process has been suspended.
The government released its tax discussion paper in March this year after several months’ delay. A green paper was expected to be released before the end of 2015, making way for the final white paper in the first half of 2016.
Under the Abbott government, concerns were beginning to surface that the Tax White Paper process would be watered down in an attempt to secure political capital.