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Tuesday, 4 October 1983
Page: 1239

To the Honourable the Speaker and Members of the House of Representatives in Parliament assembled. The petition of certain citizens of Australia shows:

That your petitioners are deeply concerned that the proposed amendments to the taxing formula applied to lump sum superannuation payments will be detrimental to their plans to provide reasonable financial stability in their retirement.

That your petitioners are of the opinion that incentive during their years of earning to make financial provision for their retirement will be removed with consequent heavier burdens on social welfare.

Your petitioners therefore pray that the proposed amendments to the taxing formula on lump sum superannuation payments be withdrawn.

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