July 20, 2016: My view on the government’s latest superannuation policies is that they must change because they attack the hard workers who do the right thing.
I made these views clear at the Nationals Party Room meeting in Canberra this week.
There are two aspects in particular which need to change.
The first is the proposed $500,000 non-concessional lifetime cap and its retrospectivity, and the second is the $1.6 million pension fund transfer balance cap.
I hate it when the government fiddles with super.
It’s not the government’s money, but belongs to those who have worked hard and saved for it.
We in government need to remember that.
These policies are Labor-style policies which hit those people who have worked hard all of their lives; those who have scrimped and saved and done the right thing.
They are policies which penalise success, and principally, these policies hit small business owners and farmers who have retired, sold their assets and transferred their wealth into superannuation.
If the government’s superannuation policy does not change, I will be crossing the floor and voting against these measures.