1 year ago
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Australia’s assistant treasurer warns using loopholes to ‘game the system’ risks ruining early funds release for those who need it
Labor’s Stephen Jones has warned those “gaming the system” by encouraging the use of superannuation for cosmetic surgery “risk ruining” early release of funds for those who genuinely need it.
The assistant treasurer and financial services minister’s comments indicate that the government’s proposed purpose of super “to preserve savings” will involve a crackdown on existing loopholes, not just preventing the Coalition’s scheme to use super for housing.
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