More than 20,200 workers in the Hunter electorate will pay more tax under the Abbott Government’s super tax changes.
Federal Member for Hunter, Joel Fitzgibbon said these changes will mean low paid workers will lose a yearly tax refund of up to $500.
“I am outraged that Mr Abbott and his Government are taking money away from working families in Hunter,” Mr Fitzgibbon said.
“These cuts will particularly affect workers in the retail and hospitality sectors who will pay an additional $500 tax per year.
“At the same time, the Government are giving 16,000 of the wealthiest people in Australia a tax break on their superannuation earnings.
“Mr Abbott and his government need to explain to the Hunter electorate workers and their families why there are paying more tax and a few millionaires get to pay less.”
Mr Fitzgibbon said the Abbott Government have also announced they will scrap Labor’s 15 per cent concessional tax rate on earnings about $100,000 in superannuation income streams.
“The Government will continue to target lower paid workers and their families to put more money in the hands on the wealth,” he said.
“The concessional tax would have affected only about 16,000 people in Australia with superannuation assets typically over $2 million.
“The Abbott Government’s axe will continue to swing with plans to scrap the Schoolkids Bonus, the Income Support Bonus and delay the phase-in of the Superannuation Guarantee already, hurting millions of families.
“Along with the rest of the Labor Opposition, I will continue to fight against these cuts for the people in the Hunter community.”