Australian taxpayers contribute $27 billion a year in superannuation tax concessions (about the same as what the age pension costs) that enable some retirees - whose homes are paid off and children gone - to enjoy a tax-free income higher than that earned by many people with young children, and mortgages and tax to pay.

The tax concessions on superannuation are fundamentally inequitable because they’re not taxed at the marginal tax rate. It’s a 15 per cent flat rate.

The “tax effectiveness’’ of super is most stark for those on incomes of $180,000 and more - those who earn up to $37,000 get nothing.