Greens treasury spokesperson Adam Bandt MP today welcomed Treasurer Scott Morrison’s comments that superannuation tax concessions should be pared back, but said the government must be ambitious with its super reform and not link ending unfair tax breaks with personal income tax cuts.
“I welcome Treasurer Scott Morrison coming to the party and acknowledging that the current superannuation tax concessions are unfair and must change,” Mr Bandt said.
“But I warn the government against linking super reform to tax cuts, including personal income tax cuts.”
“Australia is facing a revenue crisis. We need super reform that both increases the fairness of the system and brings in much needed revenue to pay for our schools, hospitals and services.”
“The Greens’ proposal for progressive taxation of super contributions would end the unfairness in the current system and bring in more than $10 billion over four years.”
“Like the Greens, the government should be ambitious with their plan to reform super and raise revenue.”
Media contact: Adam Pulford, 0429 109 054