Rich get more support than poor: report

A new report says the top one per cent of high-income couples will get $5 million in government assistance through superannuation tax breaks in their life.

Australia's richest are getting more government support through superannuation tax breaks than people on medium and low incomes, new modelling suggests.

The analysis by Industry Super Australia and Rice Warner says the top one per cent of high income couples retiring in 2055 will get on average more than $5 million in super tax concessions over their lifetime.

"Super tax breaks for top earners are outstripping assistance to middle and low income Australians, especially women, even when the age pension is included," Industry Super Australia CEO David Whiteley said.


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Source: AAP


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