see my example I posted after this.
these are not substantial amounts refunded. A high income earner cannot get a large refund except via a superfund. Superfund balances in the millions are far and few between due to limits set on contributions - rightly so as well otherwise I’d agree it’s a tax loophole.
most receive relatively small refunds. If you’re that concerned cap refunds at $30kpa or introduce 30% tax on a super earnings above a $1.6m balance, that works out to be about anything above $80kpa gets taxed at 30%, thus consuming all credits so no refund.
leave low or moderate self funded retirees alone. I am not in this category, I’ll always be top tax bracket and my super balance is moderate, not millions.
see my example I posted after this.these are not substantial...
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