Josh Frydenberg (Kooyong, Liberal Party, Assistant Treasurer) Share this | Hansard source

Five years, Treasurer:

The Rudd Labor Government will make no major changes to superannuation tax policy for five-year periods…

It is less than two years, and now Labor is proposing two additional taxes to super, including on earnings above $75,000, which has been described by the Self-Managed Super Fund Owners Alliance as 'knee-jerk fiddling' and has been editorialised by our leading newspapers as 'piecemeal' and 'opportunistic'. As the Prime Minister has said, the Leader of the Opposition cannot be trusted with bank accounts, cannot be trusted to deliver a surplus—because he promises and it never eventuates—and cannot be trusted with people's superannuation savings.

But, if all of those taxes on people's super are not enough, he adds insult to injury, because just the other day the Leader of the Opposition described the superannuation of the 14 million Australians with superannuation accounts as a 'legalised tax haven'. The former Prime Minister—

Government members interjecting—

The rorters! The former Prime Minister Paul Keating described superannuation as an appropriate vehicle for retirement planning by ordinary Australians.

Mr Brendan O'Connor interjecting—

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