Superannuation tax needs to be scrapped: NSL

Nambawan Super Limited chairman, Anthony Smare, said they will be pushing for changes to the legislation for tax on superannuation to be scrapped.

Smare said having super untaxed can benefit the country greatly, that is why a taskforce has been put together to push for the change.

“That’s something we really want to see. Your balances could be significantly higher if you did not have to give that away in tax. 

“And from the Government perspective, it’s good for the super fund to get money that comes in without being taxed because what do we do with the money? We don’t waste it; we invest it in things that build the country.

“There’s a superannuation task force being put together.

“We’re going to be pushing hard to have all superannuation untaxed.”

Cedric Patjole