N@N

Never mind negative gearing. Australians pushed $67b through this tax vehicle

The article from The Sydney Morning Herald discusses the significant use of superannuation funds for tax minimization in Australia. Despite the ongoing debate about negative gearing, Australians have invested $67 billion into superannuation as a tax vehicle. This strategy allows individuals to reduce their taxable income by contributing to their super, which is taxed at a lower rate than personal income. The article highlights that this practice has become increasingly popular, especially among high-income earners, as a means to manage tax liabilities effectively. It also touches on the government's efforts to regulate these contributions to ensure the sustainability of the superannuation system, while critics argue that such tax benefits disproportionately favor the wealthy.

Read the Full Sydney Morning Herald Article at:
[ https://www.smh.com.au/politics/federal/never-mind-negative-gearing-australians-pushed-67b-through-this-tax-vehicle-20241217-p5kz2l.html ]