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Thursday, 25 July 2019
Page: 1039

Superannuation


Dr CHALMERS (Rankin) (14:07): My question is to the Prime Minister. When will the Prime Minister cave in to pressure from members of his government on changing the legislated increase to the super guarantee, making super voluntary and including the family home in the pension assets test, just as he did on the National Energy Guarantee?


Mr FRYDENBERG (KooyongThe Treasurer) (14:08): We've had 44 questions from those opposite, and the shadow Treasurer hasn't asked one of the Treasurer—not interested in the economy. Now, we dealt with that issue yesterday. But, as the Prime Minister has told the House, there's only one side of this place that is promising $34 billion of higher taxes, and it's those opposite—$34 billion of higher taxes. Those opposite, when it comes to superannuation, want to ban the catch-up contributions. So, if you're a mother who's a teacher or a nurse and you want to take four years out of the workforce to raise a child or look after a sick relative and you want to make a catch-up contribution, the Labor Party won't let you; 230,000 Australians will be affected by that. And, if you're a 30-year-old worker in the workforce today and you take four years off and you want to make a catch-up contribution, then as a result of Labor's policy you will be more than $300,0000 worse off in retirement. The fact of the matter is: we're for lower taxes, and Labor is for higher taxes, particularly on superannuation.