House debates

Thursday, 16 May 2024

Bills

Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023, Superannuation (Better Targeted Superannuation Concessions) Imposition Bill 2023; Second Reading

1:14 pm

Photo of Andrew WillcoxAndrew Willcox (Dawson, Liberal National Party) Share this | Hansard source

A hundred per cent! And you're from over there. Don't worry; they'll come looking for you as well. Yes, you should back the people that you're putting up. Don't worry about that. But don't worry; they'll be used to broken promises, and this again is another one of the Prime Minister's broken promises. Despite making promises of no changes to superannuation before the election, the Albanese Labor government is proposing to double the super taxes of one in 10 Australians by the time they retire; stop companies—

listen to this, Dr Gordon—from offering franking credits to Australian investors, super funds and charities; tax unrealised capital gains in super, meaning Australian retirees will have to pay tax on money that they haven't even made yet.

But we're used to broken promises from those opposite. Remember the $275 that those opposite promised was going to come off the power bill? After the 97 times—that's not a slip of the tongue—those opposite said, 'You will be $275 better off on your power bills,' what has happened to power? Just like everything else, it's gone through the roof. But don't worry; we all heard, 'My word is my bond.' Remember that? 'My word is my bond.' That was solid, folks. And then, 48 hours later, bang—total change around. They do more backflips than the Moscow circus, but I'll tell you what: don't worry. I'm sure that you're all right into that. There's no problem at all.

What I don't understand is why you just don't like farmers. This tax is an affront on farmers.

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