Man With No Inheritance Coming And No Entrepreneurial Spirit Concerned Labor’s $3m Super Tax Might Affect Him One Day

ERROL PARKER | Editor-at-large | Contact

A local man who, unfortunately for him, is not some cunt’s son, says he’s increasingly worried that despite having a superannuation balance that wouldn’t buy a half-decent used Prado, Labor’s proposed cut to a tax cut might still affect him one day.

George Hunt, of Betoota Heights, currently holds $52 279.19 in his super account. He rents a one-bedroom unit and works full time as a customer service officer at the Betoota branch of a credit union.

Despite his financial position, Hunt told The Advocate he has serious reservations about the government’s decision to lift the concessional tax rate on high-balance super funds from 15 to 30 per cent.

“It punishes ambition,” he said.

When asked if he planned to accumulate more than three million dollars in retirement savings, Hunt said it was not impossible and pointed to the potential of using a self-managed fund to invest in property.

“It’s going to have to be me and only me. I can’t count on any inheritance coming my way. No elderly relatives left to bury, no estates to liquidate and divide. I’m rawdogging wealth, mate. But I don’t have a business mindset, either. I’m more of a corporate ladder type guy.”

He confirmed he has not made any voluntary contributions and is currently saving for a five per cent home deposit through a government program targeted at low-income earners and neo-liberal peasantry.

Hunt said he was still wrapping his head around the policy but believed it was important to oppose it on principle.

“It’s not about whether it affects me now. It’s about the future. If they come for the rich today, they’ll come for the future rich tomorrow.”

At time of print, Hunt was in the process of switching his super from ‘Balanced’ to ‘High Growth’.

More to come.