Ross Vasta (Bonner, Liberal Party) Share this | Link to this | Hansard source

Last week I had a big turnout at my roundtable on Labor's retiree and pensioners' tax. It just goes to show how worried the community is about Labor's retiree tax grab. I want to thank the Assistant Minister to the Treasurer, the honourable member for Deakin, for coming out to my electorate to hear my constituents' concerns. Many people had horror stories about what Labor's policy will mean to them. Betty, a self-funded retiree from Wynnum, told me that it would affect her portfolio greatly, potentially forcing her to dip into capital. Dennis from Wakely told the room that, in terms of his own super fund, he stands to lose 20 per cent of his income if Labor gets its proposal through. I didn't invite millionaires to this session. They weren't the top end of town, as Labor would have you believe they're targeting with this tax. These are ordinary people who've tried to be self-reliant. Now Labor want to take 20 to 30 per cent of their income to fund their unsustainable spending. Almost a million retirees and pensioners will be immediately affected. Dave from Mansfield also made a great point. He was a third-generation Labor voter until he heard about this reckless new policy. Now he's worried about younger people's ability to generate a decent income for their future. I invite all my constituents who would like to share their own story about this terrible tax of Labor's to contact me immediately.

Tony Smith (Speaker) Share this | Link to this | Hansard source

In accordance with standing order 43, the time for members' statements has concluded.