The Federal Opposition has called on the Minister for Financial Services and Superannuation, Bill Shorten, to commit to “certainty and stability for superannuation”. Shadow Minister for Superannuation, Senator Mathias Cormann, has said that taxes imposed by the Labor government have targeted people saving for their retirement. “Australians saving for their retirement deserve certainty and stability in super policy settings so they can plan their future retirement with confidence,” Mr Cormann said in a statement. “Labor should join the Coalition in our commitment to certainty and stability for superannuation.”… Mr Cormann has accused the Labor government of looking to impose new taxes and red tape on superannuation.
More than $8 billion in tax increases on superannuation have been introduced under the current Labor government, he claimed.
“Overall retirement savings are lower than they would have been without Labor’s tax attack on super,” Mr Cormann said.
As written in Investor Daily 25 February 2013. READ MORE