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Thursday, 15 June 1989
Page: 4084

Senator WALSH (Minister for Finance)(12.11) —Senator Watson has asked me to clarify the matter, and I can. What I said is completely correct. The contributions tax, for superannuants in general, will be a benefit-a minor benefit, admittedly-for the reasons that I explained. I explained the arithmetic behind it. The anti-detriment provision applies to those who would, in the absence of the anti-detriment provisions, have been worse off had their been no change, that is, had the tax been levied on the end benefit instead of partially on the end benefit and partially on the contribution, as is provided for under this Bill.