The Hon Chris Bowen MP - Federal Member for McMahon
What's Happening Posted April 22, 2015.
If elected, Labor will make two changes to Australia’s retirement savings system to ensure it is fair and sustainable into the future.
To improve the fairness and sustainability of our superannuation system, Labor will:
- Ensure earnings of more than $75,000 during the retirement phase are taxed at a concessional rate of 15 per cent instead of being tax free; and
- Lower the threshold for the 15 per cent High Income Superannuation Charge from $300,000 to $250,000 to better align tax concessions.
Saving $14.3 billion over 10 years, these changes are responsible, they are fair and they are final.
A fair and sustainable superannuation system will protect living!--[if>!--[if>... Read complete article »