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Tuesday, 20 April 1999
Page: 3871

Motion (by Senator Sherry) not agreed to:

That the Senate—

(a) notes that:

(i) the base for calculation of the superannuation guarantee and the Liberals' new superannuation tax or `surcharge' are substantially different, the latter including most forms of income such as overtime whereas the former excludes many forms of income such as overtime,

(ii) the superannuation guarantee still allows some employees to use a base for calculating the superannuation guarantee that is less than the definition of ordinary time earnings,

(iii) as a consequence, some employees are receiving superannuation guarantee payments based on incomes less than $73 000 a year (the starting point for the operation of the superannuation tax or `surcharge') but are being assessed for the superannuation tax or `surcharge', and

(iv) this unfairness is highlighted by employees at the Pasminco, Roseberry mine operation where the earnings base for superannuation guarantee contributions by the employer is $24 900 per annum but earnings range from $68 000 to $80 000 a year, requiring the payment of the Liberals' superannuation tax or `surcharge' by a significant proportion of the workforce; and

(b) urges the Government, at the first available opportunity, to amend the appropriate superannuation legislation to correct this serious and grossly unfair anomaly.