Retirees face balancing act

DESPITE the rumours, superannuation and negative gearing were left untouched in last Tuesday’s Budget. However, as foreshadowed in this column last month, the government announced a change in attitude to wealthy pensioners by changing the asset test taper rate.

By increasing the level at which the pension starts to reduce due to assets, and by steepening the taper rate itself, they managed to increase

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