Busting, Myths about the new Super Tax.

In last week's "West Report," an excellent article by Harry Chemay to do with the proposed new super tax, he very clearly spells out the unfairness, of the use of SMSF ( Self-Managed Superannuation Funds).

Chemay, in his article, lays to rest the fact that these systems have been used and abused, as follows. I quote "SMSFs were initially conceived to help the self-employed save for retirement, particularly those on the land (farmers and primary producers) and in the professions (barristers, medical specialists, dentists)"

"They have, however, morphed into highly tax-efficient vehicles for wealth creation since the mid-2000s, now used by more than one million people."

"SMSFs account for only 6% of members but hold about 24% of all super wealth, more than $1 trillion in total."

Without labouring the point, isn't this just another tax benefit favouring the wealthy and of course, at some time in the past, instigated by our infamous two-party system?

Nearly every tax incentive installed, that happens to favour the wealthy, will almost certainly favour our party politicians. Isn't it well past time, to replace the party parliamentarians with independent members selected and installed by their individual electorates, They will allways act in the interest of their electorates as well as the nation. No vested interests!

www.movementforbettergovernment.com.au