The letter urges Mr Palmer and the members of the Palmer United Party to vote against the Minerals Resource Rent Tax repeal bill unless the provisions relating to the LISC are removed from the bill.
Women in Super (WIS) national chair Cate Wood highlighted that the signatories to the open letter recognised that the LISC was a vital and well-targeted measure that provided much needed equity in the superannuation system.
“The LISC is neither a benefit payment nor a handout but a method of refunding a low-income earner for the 15 per cent contributions tax they pay on their compulsory super,” Ms Wood said.
According to WIS, if the LISC is discontinued, 3.6 million workers earning up to $37,000 will end up paying more tax on their super than their take home pay and will miss out on a super rebate.
“Women reducing their hours to care for children, sick and disabled family members and older parents should not be further penalised by paying more tax on their super contributions,” Ms Wood said.
“It is incomprehensible that the government chooses to remove a tax break from 50 per cent of the female workforce whilst leaving untouched the 30 per cent super tax break for the highest paid,” she added.
WIS has also launched a website in an effort to save the LISC, which followed a call to action from delegates attending the inaugural Women’s Super Summit earlier this year.
