Retirees should enjoy choice.
- The reward for a lifetime of hard work should always be a long, healthy and dignified retirement.
- When you work hard, save and provision for the future, nothing should stand in the way of your freedom and independence.
- That’s what the Morrison Government believes.
- And that’s why we’re backing retirees to achieve their goals of self-reliance and fulfilment.
- We will support retirees’ independence and dignity.
- We will ensure their savings are protected.
- We will protect and expand access to self-managed super.
- We will not undermine the value of their home.
- We will not hit them with new taxes on superannuation.
- We understand that not everybody will face the same circumstances or make the same choices later in life.
- Our policies respect these differences: whether you’re a self-funded retiree or a pensioner.
- The same cannot be said of Bill Shorten and the Labor Party.
- Labor thrives on conflict, including policies to turn retirees against pensioners.
- Their devastating Retiree Tax is a $57 billion tax grab that would hit more than 1 million Australians. This includes more than 900,000 Australians with direct shareholdings, 200,000 self-managed super funds and 1,800 super funds.
- On average, these retirees would lose almost $2,300 a year – and more than half of them are women.
- Self-managed super funds would lose $12,000 a year.
- Labor claims their Retiree Tax will only slug the wealthy, but the truth is that 84% of Australians who would be affected are on a taxable income of less than $37,000.
- And 50,000 pensioners in self-managed super funds would also be hit.
- The Morrison McCormack Government believes in choice, freedom and dignity for all Australians who have worked hard and played by the rules.
- Our record shows that we can guarantee this – without new taxes.
- Labor has no respect for those who have worked hard, paid taxes and planned for an independent retirement.
/National Party's Public Release. View in full here