Julia Gillard (Lalor, Australian Labor Party, Prime Minister) Share this | Hansard source

Thank you very much, Mr Speaker. So there is only one package before the parliament to rebuild the nation. How has the levy been designed? It bears design characteristics like those of the East Timor levy proposed by the Howard government. This is the East Timor levy that the Leader of the Opposition supported.

The member has raised with me the question of superannuation, and I can advise him of the following. Lump sum superannuation payments for over 60s from a taxed superannuation fund are exempt from tax and are also exempt from the levy. This covers the vast bulk of superannuants, but people should talk to their superannuation fund about whether a particular payment is untaxed. Can I also say to the member who has asked the question and members opposite that at some point they are going to have to face the decision here. When playing the politics is gone, will they stand up for the national interest? I am being criticised today for not enough exemptions—

See this speech in context