On 20 February, I joined Assistant Minister for Treasury and Finance, the Hon Zed Seselja MP at the Fairer Retirement Forum hosted by The Alliance for a Fairer Retirement System.
During the forum we heard firsthand some of the many personal stories from retirees who are far from wealthy, who will lose thousands of dollars under Labor’s retiree tax.
Around 900,000 individuals with direct shareholdings are hit by Labor’s retiree tax, losing around $2,200 a year on average. 200,000 Self Managed Super Funds are hit, losing around $12,000 a year on average. Many will lose more. And many thousands of pensioners will be hit, meaning Labor’s pensioner guarantee is not worth the paper it is written on.
More about the effects of Labor’s retiree tax here