3 years ago
SUPER CHOICES PLAN A SNEAKY TAX GRAB
STEPHEN JONES MP
Workers should get very nervous whenever a Liberal Government offers them “choices”.
Like WorkChoices, the Morrison Government’s plans for superannuation are all about leaving workers worse off.
After presiding over the worst wages growth ever, now the Liberals want workers to tap their retirement savings in lieu of a proper pay rise.
This plan will hurt workers twice. Cutting superannuation will cost the average couple $200,000 in lost retirement savings AND increase their tax bill.
That’s because wages are taxed at about twice the rate of superannuation contributions, giving Scott Morrison a tax windfall at the expense of workers.
Australia’s world class superannuation system demands consistent, long-term planning so workers can be assured their savings are in safe hands and their retirement income will be adequate.
Retirement savings should not be at the whim of a desperate Prime Minister looking for a sneaky tax grab.
Raiding them is not a substitute for a proper wages policy.
Scott Morrison should stop baiting workers with their own savings and find better ways to deliver on the Liberals’ failed promise to boost wages.
Like WorkChoices, the Morrison Government’s plans for superannuation are all about leaving workers worse off.
After presiding over the worst wages growth ever, now the Liberals want workers to tap their retirement savings in lieu of a proper pay rise.
This plan will hurt workers twice. Cutting superannuation will cost the average couple $200,000 in lost retirement savings AND increase their tax bill.
That’s because wages are taxed at about twice the rate of superannuation contributions, giving Scott Morrison a tax windfall at the expense of workers.
Australia’s world class superannuation system demands consistent, long-term planning so workers can be assured their savings are in safe hands and their retirement income will be adequate.
Retirement savings should not be at the whim of a desperate Prime Minister looking for a sneaky tax grab.
Raiding them is not a substitute for a proper wages policy.
Scott Morrison should stop baiting workers with their own savings and find better ways to deliver on the Liberals’ failed promise to boost wages.