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It is a bit of topic. However, if it is brought into affect it will effect people's plans. The articles don't seem to say whether it is for a family unit or for individuals. A few people on here have been saying they want $100k/annum if the tax comes in they will need to earn $105k/annum before...

If you're pulling in more than the average wage for Australia in Retirement getting hit with 15% isn't going to be to hard to swallow. I like GST because it hits everyone regardless of whether you are young or old, rich or poor, law abiding or criminal or a tourist or citizen.

I think it's crazy we don't pay at least a little bit of tax when we reach retirement age. 15% tax on income over $75k is very fair and it still beats the tax you will pay on your property and share portfolios.