Wednesday, March 27, 2013

Oppn tightlipped on reversing super change - Brisbane Times


AAP


The coalition will not confirm whether it would reverse a possible Labor raid on wealthy people's superannuation tax concessions.


The highest-earning superannuants appear set to face lower tax concessions under a government plan to claw back billions of dollars to pay for its education and disability services policies ahead of the September federal election.


Opposition superannuation spokesman Mathias Cormann says the status quo should remain.


"People across Australia doing the right thing, by saving so they can look after their own needs in retirement, deserve certainty and stability in superannuation policy," Senator Cormann told ABC Radio on Thursday.


Asked if a coalition government would reverse the changes, he said the opposition "does not want to see increased taxes on super in the budget".


"We will not be able to fix every bad decision that Labor makes in the budget on day one," Senator Cormann told ABC Radio.


The Australian people should pressure the government not to make any changes to super, he said.


The coalition plans to scrap a low-income superannuation tax offset because it was funded by the mining tax, which the opposition wants to repeal.


Senator Cormann said the federal government could not afford the low-income super tax offset.


Former chief government whip Joel Fitzgibbon has raised concerns about Labor's definition of wealthy.


"In Sydney's west you can be on a quarter of a million dollars family income a year and you're still struggling," Mr Fitzgibbon told Fairfax media.


"Coal miners in my electorate earning 100, 120, 130, 140 thousand dollars a year are not wealthy."


Mr Fitzgibbon said he would support changes at the "very, very, very high end" but didn't want others disadvantaged, such as "ordinary people like my coal miners living in the Hunter".



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