fatvegan

Between the 10th May and the 30th June 2007 you can contribute up to $1 million of untaxed contributions into your superannuation account. So if you're rich, about to retire and looking for a tax haven just dump all your money into super. My guess would be that anyone able to put $1 million into super already has plenty savings tucked away, and isn't ever planning to live off the age pension. I wouldn't be surprised if this little scheme failed to save the government a single cent, but will probably cost it torrents of foregone tax revenue.

There aren't that many examples of truly regressive taxation in our social-democratic utopias, but superannuation is one of them.