Greatest uses of Superannuation and Negative Gearing Tax breaks in Australia - Old Middle Class Men!
Been looking through the taxation statistics provided by the ATO for 2011/2012. With all the talk around the budget being too unfair, and that Superannuation and negative gearing tax concessions should be getting reduced instead, I decided to check who was actually using them.
For negative gearing, I looked at the amount of tax payers recording a Net rent loss, and the total amount of losses.
It turns out there 1.2 million tax payers recording around $13.8 billion in losses (around $10,000 loss each). The biggest concession
Biggest users of this in order...Men Earning between $100,000 - $150,000 in taxable income from 30 - 59 years of age (the manager class really). Also men between 50-54 who are earning between $60,000 - $80,000. Also a couple of Female groups in the non-taxable class (I'm assuming spouses) who are aged between 35-44 and earning less than $6000
For Superannuation - the Salary Sacrifice tax dodge, we have it as the silver medal concession with 1.2 million using it for 12.6 billion in amount salary sacrifices. Men Earning between $100,000 - $150,000 in taxable income from 35 -64 years of age. Also men earning between $70,000 - $80,000 aged between 50-69 and men aged 55-59 earning $60,000-$70,000. No chick groups in the top 10.
For Superannuation - Personal Contributions, the male rules again in 186,000 users of it for $4.4 billion
.Males Earning between $30,000-$37,000 in taxable income from 50-70 years of age; also males aged 50-60 earning between $100,000-$150,000, and females between 60-64 earning $30,000-$37,000
Interesting stuff. Its basically middle class men on the way to the retirement village getting these concessions. Something to think about.
For negative gearing, I looked at the amount of tax payers recording a Net rent loss, and the total amount of losses.
It turns out there 1.2 million tax payers recording around $13.8 billion in losses (around $10,000 loss each). The biggest concession
Biggest users of this in order...Men Earning between $100,000 - $150,000 in taxable income from 30 - 59 years of age (the manager class really). Also men between 50-54 who are earning between $60,000 - $80,000. Also a couple of Female groups in the non-taxable class (I'm assuming spouses) who are aged between 35-44 and earning less than $6000
For Superannuation - the Salary Sacrifice tax dodge, we have it as the silver medal concession with 1.2 million using it for 12.6 billion in amount salary sacrifices. Men Earning between $100,000 - $150,000 in taxable income from 35 -64 years of age. Also men earning between $70,000 - $80,000 aged between 50-69 and men aged 55-59 earning $60,000-$70,000. No chick groups in the top 10.
For Superannuation - Personal Contributions, the male rules again in 186,000 users of it for $4.4 billion
.Males Earning between $30,000-$37,000 in taxable income from 50-70 years of age; also males aged 50-60 earning between $100,000-$150,000, and females between 60-64 earning $30,000-$37,000
Interesting stuff. Its basically middle class men on the way to the retirement village getting these concessions. Something to think about.
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