'As concerned Australian citizens, we call on you to stop this blatant raid on our superannuation, and reject any plans that limit our ability to save for our own retirement.
We cannot allow the government to continue treating our hard earned savings as revenue.
Sign the petition now and tell the government to get its hands off my super.’
www.handsoffmysuper.com.au
What is Hands Off My Super about?
This is about making sure you get to keep and use the money you’ve saved over a lifetime.
Governments worldwide have spent too much. And now that tax revenues are falling, they have big bills they can’t pay. That means a budget deficit. They can’t raise taxes as it’ll lose them votes, so they’re coming up with other sneaky ways to seize your money.
Two years ago the federal government made a small change to the superannuation rules. It ordered the Australian Taxation Office to seize the balances of all funds from temporary foreign workers who had left Australia.
The Australian Financial Review reported it this way at the time:
It’s not about politics — it’s about your money!
First off, let me be clear: This isn’t a political campaign. It’s not about being anti-Labor or pro-Liberal (or vice versa).
This is about being pro-Liberty. It’s about stopping the government from taking our hard-earned savings and interfering in our lives!
‘Budget to grab $800m from super funds…After the initial payment in June, super funds will be required to hand over their obligations from temporary residents twice a year, in April and October.’
This gave the government an $800 million free money windfall — with more coming twice a year, every year.
You might think this doesn’t have much to do with you, but it does.
You see in the latest mid-year financial review on October 22nd 2012, Australian Federal Treasurer Wayne Swan revealed another change to the rules governing ‘lost super’.
The old rule was that super was only considered ‘lost’ if the super fund hadn’t been able to contact the member for five years and if the balance was less than $200.
But the new definition of ‘lost super’ is if the fund can’t contact the member for one year, and it now covers balances up to $2,000.
According to the proposed rule change, if an account balance falls under this new definition, the super fund will take possession of this money, and forward it to the government.
This will give the government a $760 million budget boost. Helping fill the budget deficit gap, and pay interest on the government’s $250 billion debt. It’s basically money for nothing. Or put another way: the blatant grab of your money.
Why is it so important that I sign the petition?
The government has already changed the rules for ‘lost super’ once. What’s stopping them from doing it again?
They’re already planning to seize $760 million of our money. What if they increase the $2,000 limit to $5,000 of your cash next time? That’s an extra $1.9 billion for the government — completely free.
Push it up to $10,000 and they could rake in close to $4 billion dollars. Do you really think they’ll be able to resist the temptation to swipe the money you've saved over a lifetime?
Especially when the mining tax has been such a spectacular failure?
I certainly don't.
But together, we can stop them.
By signing this petition you’ll be joining us in telling the government to get its hands off our super.
But more importantly, we’ll be showing this government, and future governments, that we’re willing to fight for the freedom to save and invest for our own retirement.
