Trying to use super to improve housing affordability is “self-defeating”

Trying to use superannuation to improve housing affordability is self-defeating, says ACOSS and National Shelter.

The two organisations have released their National Housing Affordability Plan, which urges the Government to avoid fueling further inflation in house prices through involving superannuation.

“With Federal budget speculation growing, ACOSS and National Shelter today urged the Federal Government not to shirk its lead responsibility to address the housing affordability crisis affecting millions across the country and increasing financial risk to the national economy,” said a joint statement by the organisations. Read more...

Superannuation tax concessions poorly targeted: ACOSS

Superannuation tax concessions, ACOSSThe superannuation tax concessions are “very poorly targeted for their purpose,” according to the Australian Council of Social Service (ACOSS).

This statement is contained in the recently released ACOSS report, Tax: Are we paying our fair share? The report examines the fairness, or otherwise, of the Australian taxation system. It points to the superannuation tax concessions as an element of unfairness in the tax system.

ACOSS says the superannuation tax concessions are “usually justified on the grounds that they assist people to achieve an adequate income in retirement, encourage saving, and reduce the cost of the age pension.” Read more...