The Federal Opposition has called on the Minister for Financial Services and Superannuation, Bill Shorten, to commit to “certainty and stability for superannuation”.
Shadow Minister for Superannuation Senator Mathias Cormann has said that taxes imposed by the Labor government have targeted people saving for their retirement.
“Australians saving for their retirement deserve certainty and stability in super policy settings so they can plan their future retirement with confidence,” Mr Cormann said in a statement.
“Labor should join the Coalition in our commitment to certainty and stability for superannuation.” Cormann blasts super benefit cuts
Mr Cormann has accused the Labor government of looking to impose new taxes and red tape on superannuation.
More than $8 billion in tax increases on superannuation have been introduced under the current Labor government, he claimed.
“Overall retirement savings are lower than they would have been without Labor’s tax attack on super,” Mr Cormann said.
“Then, they have imposed billions of dollars in increased costs on the industry which ultimately have to be paid for by those saving for their retirement through superannuation.”
“They think Australians doing the right thing by saving more for their retirement are soft targets for more Labor tax increases.”
InvestorDaily approached Minister Shorten’s office for comment but did not receive a response before press deadline.
