Lindso47,
January 3rd 2012
SUPER SYSTEM WON'T CHANGE: PM
from Yahoo7 News
Prime Minister Julia Gillard says she won't change government policy on tax breaks for super contributions.
Unions and welfare groups have vowed to push the government to overhaul $16 billion in yearly tax breaks on super contributions, which they say gives most benefit to people earning more than $180,000 a year.
"We've settled our policy," Ms Gillard told reporters in Sydney on Tuesday.
"I can of course understand there are many who will argue for different policy conclusion, but our policy ... is out there and a settled policy."
The ACTU says plans to use mining tax proceeds to increase the superannuation guarantee levy from nine to 12 per cent, and an automatic co-contribution of up to $500 a year for workers on $37,000 or less, don't go far enough, The Australian reports.
But Ms Gillard said the government had taken steps to address imbalances in the system.
"We've moved to change the system to better benefit low-income workers," she said.
"I want Australians to have a decent retirement."
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