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Taxi Licence……Superannuation

Mar 10, 2023 | News

There has been much discussion in the past few weeks in regards changes to superannuation by Albo’s Labor government. Of course I support these sensible reforms. These changes will NOT impact 99.5% of people with super and only impact those with over 3 million dollars in superannuation! It has been argued that those millionaires were getting an unfair tax advantage.
Compulsory super was introduced in the Hawke/Keating era and has been hugely successful…….for some! However 30 years later not all workers have superannuation, many falling through the cracks, eg taxi drivers, gig workers and those in sham contractors roles. Our most vulnerable and poorly paid workers.
What still makes my stomach turn is governments of all colours in this country encouraged taxi people to buy licenses, it was a legal requirement (not an investment) to operate and knowing these licenses would end up in working people’s super. Government’s threw the baby out with the bath water! All this to accommodate Uber, this wiping out decades of taxi and hire car families building their own superannuation.
This was shameful.
My own story in regards to superannuation is, I will be accessing what little super that I have, and will be attempting to pay down the majority of the debt I occurred from Uber entering the market illegally and the consequences of the Victorian 2017 taxi and hire car reforms. I no longer own a home, there is no holiday house, there is no investment properties, no share portfolio.
This will leave me with 2 fifths of fxxk all!
Yet I feel lucky there are so many worse off than me.
I repeat to the Andrews government it is never too late to fix a wrong.

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