Mitchell Families Need Certainty on Super

Thursday, 7 February 2013

Alex Hawke MP, Federal Member for Mitchell said the Coalition will restore certainty in superannuation by ruling out any negative, unforeseen changes to superannuation in the next term.

“It is clear that the Gillard Government is planning superannuation tax increases in the May Budget and if Labor is re-elected, they will introduce more taxes on superannuation.  When it comes to super, Wayne Swan has form having already increased super taxes by over $8 billion”, said Alex Hawke.

“Labor has a $120 billion budget black hole and has refused to rule out more superannuation tax increases after the next election.  Retirees, and those approaching retirement need certainty.  I believe that we should be encouraging people who save for retirement rather than penalising them.

Alex Hawke said the Coalition has made a clear commitment in its Real Solutions plan there will be no negative unexpected changes to superannuation in the next term.

“I repeat Tony Abbott’s pledge for the record and so the people of Mitchell can hold me to account – a Coalition Government will not make unexpected changes that are detrimental to superannuation in the next term.

“I call on the government to come clean about its plan for superannuation.  My concern is that Labor will say one thing before the election on super, and do another after the election – just like Julia Gillard did with the carbon tax.

Alex Hawke said the government also needs to come clean about the low income superannuation contribution. 

“Labor promised a low income superannuation contribution as part of ‘spreading the benefits’ of the mining tax.  Instead, the mining tax has raised next to nothing and the Budget continues to languish in deficit.  There is no doubt, Labor will scrap this superannuation benefit.

The Coalition would scrap the mining tax and any ‘spending’ linked to the mining tax and that includes the low income superannuation contribution – the difference between the Coalition and Labor is that we are being upfront about it.

“Mitchell residents who are approaching retirement, retirees and indeed everyone receiving employer super want certainty and confidence in superannuation and the time had come for Labor to agree to no negative changes to superannuation in the next term,” concluded Alex Hawke.