Happy with superannuation system

12-Happy with superannuation system


(Australian Associated Press)

Most Australians are happy with the structure of the superannuation system and believe it should remain compulsory.

Over half of respondents in an online Essential Research survey like that employers pay 9.5 per cent of their salary into super which is taxed at 15 per cent.

Almost two-thirds of respondents agreed that super should be compulsory compared with just 29 per cent who believe workers should be able to do whatever they want with their income.

Forty-four per cent also liked the suggestion in a recent analysis by Deloitte Access Economics that everyone should pay tax on their super at 15 cents in the dollar less than their marginal tax rate, rather than at a straight 15 per cent rate.

That would mean a low income earner paying 21 per cent tax would pay six per cent on their super while a high income earner paying 49 per cent tax would pay 34 per cent on their super.

Almost a third opposed that idea.


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