Concetta Fierravanti-Wells (NSW, Liberal Party, Minister for International Development and the Pacific) Share this | Hansard source

Senator Watt, your attack on the savings of retirees and pensioners means one million individuals and self-managed super funds will be forced to pay tax twice on what they earn from their hard-earned savings. This will hurt 230,000 pensioners. I was about to tell you where those 230,000 pensioners are who are earning less than $18,000: in New South Wales, 210,000; in Victoria, 150,000; in Western Australia, 50,000; in Queensland, 110,000; in South Australia, 45,000; and, in Tasmania, 15,000. These figures show that these people will learn a lot less as a consequence of your $60 billion tax grab that's going to hit pensioners and retirees.