SYDNEY - The Australian Taxpayers' Alliance, the nation's largest grassroots advocacy group representing taxpayers, and the H.R. Nicholls Society, Australia's only institute solely devoted to reforming Australia's Industrial Relations system and advocating for free-market policies have today joined forces to call for the complete abandonment of the 12 per cent hike to compulsory superannuation.
"Right now, most Australians are just trying to get by. We shouldn't require them to put away extra money in their supers when every cent matters."
"Increasing mandatory super from 9.5 per cent to 12 per cent, is a 2.5 per cent pay cut in the eyes of many," said Emilie Dye, the ATA Director of Policy and HRN Executive Director. " With less disposable income, Australians will be forced to cut back their spending even further. This will slow the economy even more."
"Delaying the increase to 12 per cent mandatory super would be a step in the right direction. But we need to make super 100 per cent voluntary. Australians adults have the ability to make their own financial decisions."
"Abolishing compulsory super will enable Australians to weather the current economic crisis and better prepare for future economic shocks. Let's put more money in people's pockets at the end of each week and give them the dignity to make their own financial decisions."
The ATA and HRN stood up in defence of the millions of Australians who pulled money from their superannuations during the current crisis.
"Superannuation belongs to the people, not the government. Australians should have the option to withdraw money from their savings during a crisis."
"Many bemoan the fact that thousands of Australians have drained their supers. But one of the main reasons people save is to smooth consumption during a crisis. No one should be fined by the ATO for accessing their own savings."
"It isn't the government's job to tell people how to manage their money."
