Peter Dutton (Dickson, Liberal Party, Minister for Revenue and Assistant Treasurer) Share this | Hansard source

I thank the member for Pearce for her question. I say to her and to other members of the House who have applauded the government’s announcement in the recent budget that superannuation now has much greater appeal to younger people in particular in this country. It is a much more understandable system. And we say to people who are over the age of 60 that, from 1 July next year, they have no tax to pay on a pension or on money which is drawn down in a lump sum. It provides an opportunity for us to say to young people who are in their 30s and 40s to consider superannuation in a way they have not been able to in the past. Superannuation is now a less complex system that provides greater opportunity and savings incentives and will provide very well in the future for generations who will be experiencing the ageing of the population.

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