Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

As I answered earlier: many parts of the taxation system aren't indexed. The income tax thresholds aren't indexed. The division 293 threshold, which you set, which affected a lot more people, isn't indexed. We are being very up-front about the policy that we took that we announced last week. We are being very clear about it. It affects a very small number of people in this country. Eighteen million people are unaffected. Listen to it. It raises a very modest amount by tightening a concession, that remains concessional, for those who are fortunate enough to have $3 million. I would say this to you: the average Australian has $150,000 in their superannuation, so how about you think about them— (Time expired)