. As I was taught in economics, the history of Australian financial management is “a search for revenue” we are a big country with only a small population to fund its needs.
various pots have all been pillaged: excise, income tax, the GST, privatisation of public assets, user pays and so on. The remaining big pot of cash is superannuation.
’Expect: limitations on tax deductibility of contributions, “progressive” taxation of super drawdowns by retirees, taxation of “excessive” returns, non deductibility of franking credits (already threatened).
The policy will be sold by envy as usual - examples of mercedes driving multi millionaires etc. but the reality is that they will slug the man in the street as usual.
Maybe Australia should return to the way it was envisioned with a reduction in the size and scope of federal politics, the states collecting tax for themselves and the states compete against each other for Business and Population.
The current system where states go cap in hand to Canberra doesn't work and will become life threatening to the country if it ends up with some massive Labor majority.
In reality Canberra should be cap in hand to the states for money, that will change the power dynamics and go some way to ending the current Canberra disfunction.