“The Albanese government has been caught laying yet another tax landmine in its Budget to feed its spending addiction, and this time it’s targeting superannuation” said Shadow Treasurer, Tim Wilson.
Mr Wilson's comments come in the wake of reporting in The Australian that Labor's capital gains changes contain a hidden tax on superannuation. The Treasury estimates it will add $372 billion of new taxes to Australian’s retirement savings.
“The Albanese government can’t stop taxing because he can’t stop spending and our trillion dollar Treasurer keeps digging us into a debt hole”, Mr Wilson said.
“On top of the taxes targeting small businesses, family savings, and rents, the Albanese government’s Budget has been filled with secret tax landlines that are being revealed:
- A death tax targeting family savings.
- A widow's and divorce tax that hits family savings.
- A hidden super tax that undermines family savings”.
“Labor thinks super is their money, and they’ll rig the rules to ensure Australian’s super goes into the funds their mates control, and tax anyone who wants to control their own retirement”.
“These tax hits are all about feeding the Prime Minister and Treasurer’s spending addiction which stokes inflation and destroys Australian’s standard of living”.