Tax that ignores inflation is ripping off our savers

Tax that ignores inflation is ripping off our savers
(Image: Getty)
John Cuthbertson
After years of miserly returns, interest rates on deposits are finally starting to trend upwards, spelling good news for those opting for a more secure saving and investment option.However, against a backdrop of high inflation, investors' purchasing power, in real terms (the value of their investment funds) is decreasing and their return on investment (interest), is not keeping pace with inflation.Put another way, inflation has taken a big bite out of the investor’s meal; quite literally for many superannuants who rely on interest fro...

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