Question:

My husband turns 65 years tomorrow and we are very tempted to withdraw his supernnuation because of the refusal of Wayne Swan and other Labour MP's being interviewed on TV last week, who refused to answer questions about Labours proposed changes to Super.    

I am suspicious and fear they will reintroduce a tax on withdrawals.  Do you have any similar fears ?    They are definitely up to something nasty.

 

Answer:

I would not be unduly concerned. The mid year forecast this week actually gave concessions to super. And I could not envisage a situation where a tax on withdrawals would be introduced overnight.

More likely, is a tax on the earnings of pension funds which currently enjoy a tax-free status.