Treasurer fends off claims super reforms will cost next election
Federal Treasurer Scott Morrison has knocked back suggestions that the controversial spate of superannuation reforms that have now passed Parliament will prove costly for the Coalition at the next federal election.
While the Treasurer acknowledged it was a difficult decision to take these superannuation reforms to the last election, he defended the reforms, stating they were critical to creating a more flexible and sustainable super system.
“We actually were up front with the Australian people about it and we made our case out there and we got the feedback,” said Mr Morrison.
“Yes, we acknowledge that we had to make the case and we had to make the argument, and we had to take it through the Parliament with our colleagues and work through all of those issues, but that's the work of government. That's the work of reform.”
Mr Morrison also criticised the Labor Party for walking away from concessional catch-up contributions.
“The opposition, in the amendments that they sought to move in the house and supported in the Senate, that was their secret plan on superannuation – to tax it more,” he said.
“At the next election there is only one party that is going to be seeking to tax superannuation more and that's the Labor Party. They've made that very clear in the Parliament.”
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.