Opposition under pressure on policy
The Federal Opposition is facing pressure this week to release its superannuation policy – both from the Government and elements of the financial services industry.
The Minister for Financial Services, Chris Bowen, last week called on the Opposition in Melbourne to release its superannuation policy before polling day, and the Association of Superannuation Funds of Australia (ASFA) has added its voice to the call.
ASFA chief executive Pauline Vamos late last week called on the Opposition to release its comprehensive policy at the same time as urging it to embrace a number of key policy reforms.
ASFA called on the Government and the Opposition to embrace policy changes including increasing the superannuation guarantee to 12 per cent, removing the $450 threshold on superannuation guarantee payments, increasing contributions tax, implementing further tax concessions on super for low-income earners, and including the self-employed within the compulsory superannuation system.
For his part, Bowen at the weekend found himself defending the Government’s decision to lift the superannuation guarantee to 12 per cent over time, arguing that it would not represent an undue impost on employers.
AUTHOR
Mike Taylor
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