Today in Question Time, Malcolm Turnbull let the cat out of the bag on his secret plans for superannuation.
After his blundering Question Time yesterday where he ruled out changes to Capital Gains Tax, once again Malcolm Turnbull is left saying one thing and doing another.
Not only is the Turnbull Government considering changes to the Capital Gains Tax Discount for super funds, they’re looking at fundamental changes to the entire superannuation tax system.
Malcolm Turnbull said in Question Time today, “what we are looking at is the entire superannuation system” and said of the tax on superannuation earnings that it is “remarkably low”.
This is a very worrying sign that the Government will go after the superannuation savings of all Australians.
Labor has had a clear, targeted plan for Fairer Super on the table for almost a year, while the Government just does their best to trash the super system for working people.
Whether it’s the leak over the weekend of an absurd plan to make superannuation “opt-out” for low income earners, or their decisions to freeze the superannuation guarantee, abolish the Low Income Superannuation Contribution and make it easier for employers to shirk their superannuation obligations, the Government is just interested in making the system worse.
It’s about time Malcolm Turnbull and Scott Morrison come clean on their plans for superannuation taxation and be honest about how they will hit the retirement savings of working people.