Jane Prentice (Ryan, Liberal Party) Share this | Link to this | Hansard source

It is now obvious to all Australians that Labor are passionate about wreaking havoc on our very way of life. They are determined to grab your hard-earned money. Consider the 900,000 Australians impacted by Labor's proposed retiree tax. That is almost one million Australian retirees who will lose approximately $2,200, on average, per year. Almost 200,000 self-funded retirees stand to lose, on average, around $12,000 per year.

At a recent public hearing of the Standing Committee on Economics in Brisbane, attendees were not backward in their criticism of this predatory policy. For those who are in transition to retirement, newly retired or well established in their later years, the committee heard about the significant financial impost Labor's policy would have on their way of life. The Cancer Council, which shared the sentiment of many other charities, voiced their concerns about the ability of retirees to make much-needed donations. With less income as a result of Labor's ill-thought-out policy, retirees will soon reduce their donations. If Labor and their union bosses ever again govern our country, retirees' financial security is at risk. As one submitter, Noel, said, 'This is a cruel and unfair grab for tax.' Same old Labor: more taxes and higher taxes.'