House debates

Tuesday, 12 February 2019

Statements by Members

Taxation

1:31 pm

Photo of John AlexanderJohn Alexander (Bennelong, Liberal Party) Share this | Hansard source

The party opposite is continuing their practice of short-term gain and long-term pain—their gain and Australians' pain—whether it's the mining tax, which ultimately costs consumers more, border policies that weaken our border security, or negative gearing policies that would rip the bottom out of our delicate housing market. The latest of these ill-thought-through policies is the retiree tax, a grab for money that will boost their coffers at the expense of some of the most vulnerable in our community.

Some 8,300 people in Bennelong will be punished if Labor introduces its retiree tax. On average, individuals affected would lose $2,200 a year. Those with self-managed super funds would lose around $12,000 a year. For many, their losses would be higher. Labor is changing the goalposts on those who have worked hard and saved and who have been responsible. According to the Australian Taxation Office, more than 900,000 Australians, 200,000 self-managed super funds and 2,000 super funds would be hit by Labor's retiree tax. Most people affected are on modest incomes.

In opposition you have said and promised things just to get a vote. In government you are responsible for decisions made. Are you really worthy of government?

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