Labor's proposed Retiree Tax will hurt 6900 Wide Bay seniors

Published:

Labor's retiree tax would hit the wallets of 6,900 Wide Bay seniors if Bill Shorten was elected, new Australian Taxation Office data shows.

"Labor's proposed Retiree Tax would punish people who have worked hard their whole lives and saved for a rainy day - including almost 7000 grandmas and grandads, mothers and fathers in Wide Bay, the majority of whom are already on modest incomes," Member for Wide Bay Llew O'Brien said.

"To make matters worse it will also hit tens of thousands of Australian pensioners, who stand to lose the most."

Mr O'Brien said Wide Bay seniors are among the more than one million Australians who would be hit by Labor's retiree tax. Around 910,000 individuals, members in 200,000 self-managed super funds and 1,800 super funds would have their incomes slashed.

"Older Australians would stand to lose about $2,300 every year, and people with self-managed super funds would lose around $12,000 or much more," Mr O'Brien said.

"Nobody in Wide Bay can afford that. I've also heard from many people in Wide Bay who have looked at the numbers and tell me that this proposed tax would force them to rely on the Age Pension.

"Labor's attack shifts the goalposts on older Australians who have done the responsible thing, they have worked hard, paid tax all their lives and saved for their retirement.

"Australians shouldn't have to worry about how they'll pay their bills or meet medical expenses.

"We need a Government that encourages hard work and saving, and can handle the Budget responsibly – and that's a Coalition Government. I'll stand up for our retirees.

"Labor can't manage money, that's why they end up coming after yours. To make matters worse they have told concerned seniors they could just 'vote against us'.

"It's advice our seniors should take.

"Labor's retiree tax is among more than $200 billion in new, higher taxes Bill Shorten wants to dump on our economy. When Labor start running out of money they come for yours."

 
Australian Government Elections Money & Finance Political Seniors
Social:   

Llew O'Brien MP : View Full Profile
PO Box 283, Gympie
1300 301 968
Llew O'Brien MP
Showing 10+ recent articles for this business
Maryborough Rifle Range re-opening on target 18 February 2020 | Maryborough Rifle Range will today celebrate its official re-opening after an eight-year closure. More information...
Sun shines on renovated Sunshine Beach Surf Club 14 February 2020 | The new and improved Sunshine Beach Surf Life Saving Club is officially open, boosting local jobs and helping the Noosa community to swim, surf and socialise in safety. More information...
Getting tourists back into fire-affected Noosa region 12 February 2020 | Applications will open next week for a share of $10 million in funding to bring tourists back to bushfire-affected communities including Noosa, Federal Member for Wide Bay Llew O'Brien announced today. More information...
Llew O'Brien and Minister Buchholz get the '101' in defensive driving 31 January 2020 | Assistant Minister for Road Safety, Scott Buchholz visited Roadcraft Driver Education facility in Gympie this week, alongside Federal Member for Wide Bay Llew O'Brien to get the '101' on defensive driving. More information...
$785,150 grant puts Global Manufacturing Group on world stage, secures 58 jobs 31 January 2020 | A $785,150 grant has enabled Maryborough's Global Manufacturing Group to install world-leading technology to manufacture specialist parts for companies including Rheinmetall. More information...
$14 million for Queensland communities impacted by bushfires 24 January 2020 | Federal Member for Wide Bay Llew O'Brien has welcomed a $14 million Community Recovery Package to support the mental health and resilience of Queensland communities affected by the bushfires last year, including... More information...
Australia Day 2020 Message 24 January 2020 | Dorothea Mackellar's 1908 poem My Country reminds us of the extremes of the Australian climate, but the start to 2020 with the combined impact of the prolonged drought, and destructive bushfires spread across... More information...
Wide Bay shares in $9 million initiative to help transition to NDIS  22 January 2020 | Four Wide Bay organisations have received grants of up to $20,000 as part of a $9 million national initiative to help businesses transition to the NDIS. More information...
Grants to help Wide Bay commemorate Victory in the Pacific Day 16 January 2020 | Wide Bay community groups can apply for grants of up to $10,000 to commemorate the 75th anniversary of Victory in the Pacific Day, Federal Member for Wide Bay Llew O'Brien announced today. More information...
Ex-service organisations to receive funding boost 16 January 2020 | More than $4.2 million in funding is available to help ex-service organisations deliver essential advice and advocacy for veterans, war widows, serving defence force members, and their loved ones. More information...


comments powered by Disqus

All articles submitted by third parties or written by My Sunshine Coast come under our Disclaimer / Terms of Service