Labor’s superannuation policy change is sensible in these difficult fiscal times

In coming years, however, if Australia’s fiscal positions worsens, there may be more calls to save further revenue from superannuation concessions with some arguing already that all retirees should pay some tax on their superannuation income given the current tax-free super balances on retirement is $1.7 million.

It remains to be seen what the future holds, but for the time being Labor’s recent tax is a reasonable  and fair reform in these tougher times where old and new policy demands are placing much greater pressure on the public purse.

In the end, Labor’s superannuation reform is indeed a sign that something has to give and there may be more reforms to come.