More than half the benefits of current superannuation tax breaks go to the wealthiest 20 per cent of households, according to the Super Tax Targeting report released by the Grattan Institute today.
The bottom half of income earners receives only around 15 per cent of the benefits of superannuation tax concessions.
The Grattan report highlights the unfairness of the current superannuation tax concession system which is unsustainable and badly targeted.
Labor is committed to ensuring the sustainability of the retirement income system in a way that delivers fairness and enables Australians to maintain a comfortable standard of living in retirement.
We have a detailed plan for Fairer Super which has been on the table since April this year.