Greens Economic Justice spokesperson Nick McKim has responded to announcement that the government has reworked the superannuation tax bill:<\/p>\n\n\n\n
\u201cWe will take a look at the detail here, but we\u2019re concerned that the government has further weakened what should be a tax to ensure the super wealthy top 0.5% pay their fair share of tax.<\/p>\n\n\n\n
\u201cIt\u2019s clear Labor doesn\u2019t have the guts to tax big corporations and billionaires fairly.<\/p>\n\n\n\n
\u201cOf course low income people need some tax relief on their super contributions. This is something the Greens have called for for some time, so we will run the ruler over the changes to low income earners\u2019 superannuation.<\/p>\n\n\n\n
\u201cLabor has stripped out the tax on unrealised gains and indexed the $3 million threshold, a gift to the super-rich that will cost the budget billions.<\/p>\n\n\n\n
\u201cThis is a capitulation to the wealthiest people in the country, and a slap in the face to everyone else who pays their tax straight out of their pay packet.<\/p>\n\n\n\n
\u201cThis new model will give a green light to the richest 0.5% to keep hoarding investment properties. No capital gains tax will have to be paid as long as they don\u2019t sell their properties and even then, less than half of the profits will attract tax.<\/p>\n\n\n\n
\u201cWe\u2019ll look at the full legislation when it\u2019s introduced, but this backflip shows Labor\u2019s priorities loud and clear. They\u2019d rather protect the wealthy few than stand up for the many.<\/p>\n\n\n\n
\u201cThe Greens will keep pushing for a fair tax system that makes the wealthy pay their way, instead of one that still rewards those hoarding obscene wealth through super accounts.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Greens Economic Justice spokesperson Nick McKim has responded to announcement that the government has reworked the superannuation tax bill: \u201cWe will take a look at the detail here, but we\u2019re concerned that the government has further weakened what should be a tax to ensure the super wealthy top 0.5% pay their fair share of tax. … Continue reading “Labor lets the super wealthy off the hook”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-35368","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/35368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=35368"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/35368\/revisions"}],"predecessor-version":[{"id":35369,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/35368\/revisions\/35369"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=35368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=35368"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=35368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}