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Table Of Contents


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Hansard
- Start of Business
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BILLS
- Australian Business Securitisation Fund Bill 2019
- Treasury Laws Amendment (Consumer Data Right) Bill 2019
- Fair Work Amendment (Right to Request Casual Conversion) Bill 2019
- Social Security (Administration) Amendment (Income Management and Cashless Welfare) Bill 2019
- Social Services Legislation Amendment (Overseas Welfare Recipients Integrity Program) Bill 2019
- National Disability Insurance Scheme Amendment (Worker Screening Database) Bill 2019
- Aged Care Amendment (Movement of Provisionally Allocated Places) Bill 2019
- Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019
- Treasury Laws Amendment (2019 Measures No. 1) Bill 2019
- Excise Tariff Amendment (Supporting Craft Brewers) Bill 2019
- Commonwealth Registers Bill 2019
- Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019
- Business Names Registration (Fees) Amendment (Registries Modernisation) Bill 2019
- Corporations (Fees) Amendment (Registries Modernisation) Bill 2019
- National Consumer Credit Protection (Fees) Amendment (Registries Modernisation) Bill 2019
- Treasury Laws Amendment (2019 Petroleum Resource Rent Tax Reforms No. 1) Bill 2019
- Treasury Laws Amendment (Increasing the Instant Asset Write-Off for Small Business Entities) Bill 2019
- Export Finance and Insurance Corporation Amendment (Support for Infrastructure Financing) Bill 2019
- COMMITTEES
- DELEGATION REPORTS
- COMMITTEES
- BILLS
- COMMITTEES
- BILLS
-
STATEMENTS BY MEMBERS
- Apology to Australia's Indigenous Peoples: 11th Anniversary
- Rose, Ms Shari
- Apology to Australia's Indigenous Peoples: 11th Anniversary
- Dairy Industry
- Apology to Australia's Indigenous Peoples: 11th Anniversary
- Dividend Imputation
- Apology to Australia's Indigenous Peoples: 11th Anniversary
- Youth Insearch
- Petition: Child Care
- Community Early Years Centre
- Community Early Years Centre
- Dividend Imputation
- Queensland: Floods
- National Security
- Apology to Australia's Indigenous Peoples: 11th Anniversary
- Mental Health, New England Electorate: Bushfires
- Apology to Australia's Indigenous Peoples: 11th Anniversary
- Dividend Imputation
- Apology to Australia's Indigenous Peoples: 11th Anniversary
- Bowman Electorate: Redland Hospital
- Apology to Australia's Indigenous Peoples
-
QUESTIONS WITHOUT NOTICE
-
Minister for Human Services and Digital Transformation
(O'Connor, Brendan, MP, Keenan, Michael, MP) -
National Security
(Flint, Nicolle, MP, Morrison, Scott, MP) -
Minister for Human Services and Digital Transformation
(Burke, Tony, MP) -
National Security
(O'Brien, Ted, MP, Dutton, Peter, MP) -
Coalition Government
(Shorten, Bill, MP, Morrison, Scott, MP) -
Regional Australia
(McGowan, Cathy, MP, Morrison, Scott, MP) -
Economy, National Security
(Wicks, Lucy, MP, Frydenberg, Josh, MP) -
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
(Plibersek, Tanya, MP, Frydenberg, Josh, MP) -
National Security
(Howarth, Luke, MP, Coleman, David, MP) -
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
(Bowen, Chris, MP, Frydenberg, Josh, MP) -
Domestic and Family Violence
(Sudmalis, Ann, MP, O'Dwyer, Kelly, MP) -
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
(Shorten, Bill, MP, Frydenberg, Josh, MP) -
National Security
(Wilson, Rick, MP, Porter, Christian, MP) -
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
(O'Neil, Clare, MP, Frydenberg, Josh, MP) -
Coalition Government
(Christensen, George, MP, McCormack, Michael, MP) -
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
(Bowen, Chris, MP, Frydenberg, Josh, MP) -
Australian Defence Force
(Andrews, Kevin, MP, Pyne, Christopher, MP) -
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
(O'Toole, Cathy, MP, Morrison, Scott, MP) -
Australian Defence Force
(Hastie, Andrew, MP, Chester, Darren, MP) -
Coalition Government
(Lamb, Susan, MP, Frydenberg, Josh, MP) -
National Security
(Joyce, Barnaby, MP, Morrison, Scott, MP) -
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
(Aly, Anne, MP, Frydenberg, Josh, MP) -
Tasmania: Bushfires
(Wilkie, Andrew, MP, Morrison, Scott, MP) -
Domestic and Family Violence
(Zimmerman, Trent, MP, Fletcher, Paul, MP)
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Minister for Human Services and Digital Transformation
- BUSINESS
- DOCUMENTS
- PRIVILEGE
- PERSONAL EXPLANATIONS
- BILLS
- MATTERS OF PUBLIC IMPORTANCE
- BILLS
- CONDOLENCES
-
BILLS
- Home Affairs Legislation Amendment (Miscellaneous Measures) Bill 2018
- Social Services and Other Legislation Amendment (Supporting Retirement Incomes) Bill 2018
- Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Bill 2018, Income Tax (Managed Investment Trust Withholding Tax) Amendment Bill 2018, Income Tax Rates Amendment (Sovereign Entities) Bill 2018
- ADJOURNMENT
- NOTICES
-
Federation Chamber
- Start of Business
- CONSTITUENCY STATEMENTS
- CONDOLENCES
- STATEMENTS BY MEMBERS
- CONDOLENCES
- STATEMENTS BY MEMBERS
- BUSINESS
- COMMITTEES
- ADJOURNMENT
Content Window
Wednesday, 13 February 2019
Page: 377
Page: 377
Ms SHARKIE (Mayo) (10:12): Mayo is the oldest electorate in South Australia and, while the demographics vary from community to community, I'm not at all surprised that there has been great concern in our region about Labor's recently announced dividend imputation policy. This is a policy that targets self-funded retirees and would wipe off cash refunds on franked dividends from individuals and superannuation funds. There is no legislation before the parliament to examine in detail, so I have to rely on Labor's statements.
Originally, this policy was going to affect more than 300,000 low-income retirees who receive the pension or part pension. Understandably, there was a backlash to this, and so Labor amended the policy to exempt people who receive the age pension, disability support pension, carer payment, parenting payment, Newstart and sickness allowance. Labor also intends to exempt the self-managed superannuation funds of recipients of these payments. However, this still leaves 60,000 retired Australians who are likely to be affected by this policy—people who rely on the additional income from dividend imputation credits to both stay off the pension and enhance their quality of life in retirement.
Many retirees and soon-to-be retirees have structured their financial affairs for many years around the current dividend imputation arrangements—long-term financial decisions made to structure savings so that, upon leaving the workforce, people do not rely on a pension payment. I want to put on the record that I and my Centre Alliance Senate colleagues will not support any legislation that will leave retirees worse off. We also take a dim view of supporting any legislation that is retrospective. People make long-term decisions in good faith based on the laws of the day.
There are further potential consequences of this proposal that I think we must consider in this parliament, and a very important one is regional Australia. Self-funded retirees are contributing significantly to regional tourism in this country. They are known as the grey nomads. They are spending their money in our regional communities, and I thank them wholeheartedly for that. I do not want to see this opportunity for regional Australia and for regional Australian tourism to diminish.
I'd also like to make the point that such a proposal leaves my generation, generation X, quite nervous. If we have a precedent where legislation is made retrospective and changes the long-term planning of people for their retirement, I think our generation will be less inclined to invest and save very hard for our own retirements and to be self funding. This will increase people's draw on the pension from the Commonwealth as many self-funded retirees end up also needing to draw a pension. I would like to conclude: Centre Alliance will not be supporting any legislation that will make retirees worse off.