Labor Must Rule Out Raiding Aussie Super With New $50 Billion Tax

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Labor Must Rule Out Raiding Aussie Super With New $50 Billion Tax

Labor have been in charge for just three weeks and are already preparing the ground to launch a clandestine raid on the Australian superannuation system.

 

Secret Parliamentary Budget Office analysis which made its way out of the basement and into the pages of Australian Financial Review today lays the groundwork for a $50 billion tax on the superannuation system. According to the secret plan over $49.3 billion will be ripped out of the pockets of Australians who are seeking to save for their retirement.

 

The Labor’s clandestine raid on Super is two pronged.

 

First they are seeking to increase the concessional superannuation contribution rate from 15 per cent to 32 per cent for people earning more than $180,000 a year–ripping $35.4 billion out of the superannuation system.

 

Second they will seek to reduce the annual concessional contributions cap from $27,500 to $18,000 – ripping a further $13.8 billion out.

 

Labor need to immediately rule out any new tax on Australian superannuation like they promised the Australian people at the last election.

 

Shadow Assistant Treasurer and Shadow Minister for Financial Services Stuart Robert called for Labor to come clean with the Australian people about their secret plan to raid Aussie Super.

 

‘Labor snuck into Government and have now shown their true colours by belling the cat on their new $50 billion tax on Aussie Super,’ Mr Robert said

 

‘Anthony Albanese and Jim Chalmers need to front up and immediately rule out any new tax on Aussie Super and explain who commissioned this PBO work.

 

‘While everyday Australians struggle to pay their soaring energy bills, fill up their cars and service their mortgages, Labor are hard at work cooking up new ways to tax their aspirations.’

 

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