Mathias Cormann calls on Bill Shorten to rule out tax increase on superannuation
Senator Mathias Cormann has renewed his call for the Government to "break its silence" and rule out any further increases on superannuation.
Cormann's call followed the proposal drafted by the Australian Greens for the introduction of super tax reform, which will soon be presented to the Superannuation Roundtable.
The Greens' plan would see superannuation taxed at a person's marginal tax rate minus 15 percentage points, which would provide concessions for low income earners, but would increase tax on high income earners.
Cormann said the Assistant Treasurer Bill Shorten failed to respond to calls to rule out tax increases on superannuation last week.
"There is already widespread concern that Labor's Superannuation Roundtable announced by Bill Shorten a week ago is nothing more than a Trojan horse for its secret tax agenda on superannuation," Cormann said.
"He must reassure Australians committed to achieve a self-funded retirement that the Superannuation Roundtable is not part of another secret Labor-Green agenda to increase taxes on their super savings."
The opposition has accused the Federal Government of dramatically increasing taxes on superannuation since coming to office and discouraging retirees from saving more by scraping the co-contribution program introduced by the Howard Government, and cutting concessional super contribution caps to $25,000.
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