Pensioners should not be worried about becoming a casualty after Budget changes are announced on May 13, according to the Switzer Super Report’s Peter Switzer and Paul Rickard. While any change is set to plummet confidence in PM Tony Abbott, as he’ll break a pre-election promise made to pensioners, these won’t be put into action any time soon.
Last week on Super TV, Paul Rickard gave his opinion of proposed changes. Rickard explained how the income and assets tests are “arguably too high”. He stated that the assets test does not make a significant differentiation between home owners and non-home owners, which makes the system quite biased towards the former.
Peter Switzer also suggested that other areas could be looked at, such as what can be claimed as a tax deduction for property investments. He says there is “no way” pensions will get the chop.