Opposition to revisit contribution caps
Shadow Financial Services Minister Mathias Cormann has flagged the Coalition's intention to revisit concessional contribution cap levels and co-contribution cap levels for low income earners.
The Coalition acknowledges that the caps have been too low after five years of reductions, he said.
However, the Coalition will only revisit the contribution caps once the budget is strong enough to do so, Cormann said.
It will be inheriting a very difficult budget if it wins the election, he said.
Cormann said that the Coalition has been up front and transparent about its intentions.
He said the Coalition also wanted to let those of the Government's superannuation changes that it supported settle down so that it could make informed judgements later on about their effectiveness and what further changes were needed, if any.
He reiterated that the Coalition wanted no more detrimental changes to superannuation and that the system needed to be stabilised.
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