Australia - Peter Dutton, minister for revenue and assistant treasurer, has slammed shadow treasurer Wayne Swan and leader of the opposition Kevin Rudd for giving in to unions and "refusing to rule out restoring the 15% end tax on super payouts".
The outburst came after a group of five left wing unions – described by Dutton as “the power and the pennies” behind Labor – called two weeks ago for the tax on super payouts to be reinstated and added failure to do so would “weaken the traditional pension safety net for retired workers”.
The removal of tax on superannuation payouts was the key component of the last budget and Dutton is claiming that Rudd and Swan are still “dancing to the tune of the unions” and are refusing to rule out restoring the 15% end tax on super payouts.
Dutton said: “After 10 days Rudd is still considering the ridiculous suggestion by ALP unionist Doug Cameron to reintroduce the 15% end tax on superannuation pensions and payouts, which the Howard government has just abolished."
"In a half hearted attempt to prove he is a friend of business, particularly in Western Australia, Rudd has tried to distance himself from the unions and their call for a new tax on mining. However, Rudd remains silent on the union proposal to restore the end tax on super,” added Dutton.
Dutton said the ageing population was a serious threat to the economy over the next two or three decades, and that was why the Government simplified super and abolished the 15% end tax - to help people adequately provide for their own retirement.
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