Nick Sherry (Tasmania, Australian Labor Party, Minister Assisting the Minister for Tourism) Share this | Hansard source

(Tasmania—) (): As I was saying, we propose to use some of the money from the mining tax to reduce the contributions tax for millions of low- and middle-income Australians. We intend to reduce, and abolish in most cases, the contributions tax paid by low-income earners. We propose to increase the superannuation guarantee from nine to 12 per cent. What do we hear from those opposite? The same negativity, the same criticism which has proven to be untrue. We still hear the same lines, the same mantra—we still hear the same lines on the carbon tax and we still hear the same lines on the resources tax. Of course they say they are going to scrap the resources tax. How are they going to find the $70 billion in savings? One of the things they will have to do is increase the contributions tax for low- and middle-income earners after they scrap, if they ever get into government, the mining tax. The mining tax helps pay for tax cuts in superannuation. (Time expired)