I have said for some time that politics is not about personality, but about policy.
You hear people say, I don’t like Dutton; he looks funny; he won’t relate to the electorate, etc.
Well, I am saying forget all of that and let’s see what the Albanese government is doing on policy. Remember, Albanese said 97 times he would get the voters a reduction in their energy bill of $275.
You know what has come of that.
Albanese is a nice bloke. That is not the issue. Dutton is a tough cookie. We live in tough times. Give me the tough bloke every day. Chalmers, the Treasurer, has been there for five minutes. He gives no indication that he either knows what the problems are or how to fix them.
There is an Aston by-election coming up on April 1.
We have a price on gas where the producer is told how much he can sell his product for.
The energy policies are a national economic suicide note.
Then remember, multi-employer bargaining? Nothing about that before the election.
Do we have a Prime Minister of broken promises?
Now, it is superannuation.
Before the election, Anthony Albanese was quite specific when he said, ‘We have said we have no intention of making any super changes. One of the things we are doing in this campaign is making all of our policies clear.’
Well, it is a terrible thing to say about a Prime Minister, but that is an untruth. To tell the truth during the election campaign would have been political death.
Labor are launching a crusade to raid your superannuation | Alan Jones
Alan Jones details Treasurer Jim Chalmers’ revised superannuation scheme.
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When you talk about the energy policy and the Voice and multi-employer bargaining, you say to yourself, particularly on energy policy, are these people on something?
The superannuation story that they are on about, even though it is a broken promise, is pretty simple.
I won’t go into the tax concessions that everyone gets for sticking money into super.
That is not the issue here.
The issue here is about what tax you should pay on the earnings from your super.
If you have a super balance of $1.7 million, then, what you earn on that, is tax-free; and any earnings on a superannuation amount above $1.7 million are currently taxed at a concessional rate of 15 percent.
What Labor have been saying is pretty sensible, though a broken promise, that the concessional tax rate on superannuation earnings should end at $3 million. The returns on $1.7 million or less, tax-free.
After that, the returns on your accumulated superannuation are currently taxed at 15 percent.
The argument is that even if you have $10 million accumulated in super, what the Albanese government are trying to say, and making a hopeless mess of it, is that the concessional tax should cut out at, say, $3 million.
Well, having said, prior to the election, ‘We have said we have no intention of making any super changes.’
The Treasurer has now announced that he will double the tax rate paid by Australians on income from superannuation account balances worth more than $3 million.
Labor will, from 2025-26, tax the earnings on superannuation funds beyond $3 million at 30 cents in the dollar, not 15.
Labor’s superannuation scheme reeks of socialism: Peter Dutton | Alan Jones
‘The Labor Party always believe that they can do better with your money than you can.’
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Forget the merits of the case.
Do you think if this tax increase had been flagged prior to the election, that Albanese would have won?
I’m telling you he would have been flogged.
Morrison would have won.
Albo’s victory is now tainted and stained with dishonesty.
Labor can’t win this argument.
The voters in Struggle Street believe that the government has its hands on their superannuation and that is political death.
Labor have just proved that they are after your super.
Dutton was right.
But it is worse than that, much worse, because this decision affects, reportedly, only 32,000 superannuants.
What I am about to tell you affects us all.
What Labor really want, is to determine how Australia’s $3.3 trillion, in accumulated superannuation, should be invested.
Chalmers made this point only last week, that it could be invested in projects that ‘boost housing supply, manage climate change, and spur digital transformation’.
As I have said, if superannuation funds truly believed these projects were sensible investments, they could do all of this now.
This is socialism with a capital S.
This is the government saying what should be done with our money.
The tax on super is a big issue, but lookout; telling us how our superannuation should be invested is a bigger issue and the hypocrisy, albeit dishonesty, is breathtaking.
For example, in retirement, if you own your own home, then you are most probably guaranteed some dignity in old age.
If you don’t own your own home and you have to pay rent and then fund your modest living, forgive the expression, but you are stuffed.
The Liberal Party, at the last election, had a very good policy, albeit released in the last week.
You could take some of your super for a deposit on a home.
This would ideally reduce, in retirement, the dependence of many on the aged pension.
Labor jumped up and down and, even today, deny that policy; yet Chalmers says your superannuation money should be invested in things like social housing.
So, your super, according to Chalmers, should assist other people into housing, but you can’t use it to get yourself a house.
That is how dumb and duplicitous these people are.
Peter Dutton must prosecute this until he is out of breath in the Aston by-election.
Just repeating.
If your superannuation pool is more than $3 million, the tax on your earnings from the financial year 2025-26 will now be doubled by this Labor government.
Labor is now in a political quagmire because of the stupidity with which it has raised this; perpetuating the dishonesty by trying to argue this is not a broken promise; and now they will rightly suffer the political odium of putting superannuation and tax in the same sentence.
The further big issue is government telling us how our superannuation should be invested; and they should be belted from here to the end of the earth every time that is suggested.
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