Politicians could really help the young by not forcing an increasing amount of their pay packets into super, while also addressing the underlying forces driving house prices ever higher. |OPINION by theage senior economics writer Jessica Irvine auspol...
Ah, life used to be so simple. Get a steady job. Buy a home. Pay it off. Retire. Live a modest life on the age pension. Die.For instance, there were always people who managed to save a little extra for retirement, or who had employers who chipped in a bit extra on their behalf to a retirement account to supplement their income from the age pension. But not everyone.Peter Rae
Get that? While the Coalition now suddenly seems to think younger Australians would be better off with a bit less super and a bit more homeownership, it is also committed to taking an increasing slice out of their pay packets in coming years to funnel into super. Huh? But it’s less fine when younger Australians are increasingly short the funds to purchase one of the most basic consumption needs of all: a home to live in.
There is no other asset class on which banks will lend as much, or to as wide a range of people. There is also no other asset class on which you will pay zero tax on any capital appreciation.
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