AndyBTCAdviser on Nostr: More on Superannuation proposed changes: "According to the Grattan Institute, which ...
More on Superannuation proposed changes:
"According to the Grattan Institute, which advocates taxing earnings on balances above $2 million in super funds at 30 per cent or more instead of imposing a hard cap, introducing such a policy for balances over $3 million would save the federal government around $1 billion.
In the 2019-2020 financial year, there were around 36,000 people with balances over $3 million, holding nearly $200 billion in assets.”
So if your superfunds are all self custody #bitcoin with no yield and your balance is a $100m cause there’s been a bunch of halving since you first moved everything over…?
Oh and it wouldn’t save the federal government a cent, it would steal another $1bn in taxes that they aren’t currently stealing!
https://www.afr.com/policy/tax-and-super/labor-hints-at-3m-super-cap-but-no-other-changes-20230222-p5cmhl
"According to the Grattan Institute, which advocates taxing earnings on balances above $2 million in super funds at 30 per cent or more instead of imposing a hard cap, introducing such a policy for balances over $3 million would save the federal government around $1 billion.
In the 2019-2020 financial year, there were around 36,000 people with balances over $3 million, holding nearly $200 billion in assets.”
So if your superfunds are all self custody #bitcoin with no yield and your balance is a $100m cause there’s been a bunch of halving since you first moved everything over…?
Oh and it wouldn’t save the federal government a cent, it would steal another $1bn in taxes that they aren’t currently stealing!
https://www.afr.com/policy/tax-and-super/labor-hints-at-3m-super-cap-but-no-other-changes-20230222-p5cmhl