Labor made historic increases to the age pension
that improved the lot of pensioners driven into dire straits
when their spouse passed!
Labor has been the force for fairness to pensioners!
Self Funded retirees receive considerable benefits getting
part pensions in many instances and associated health care card.
They don't pay tax on fund earnings or on their drawings.
Labor introduced or endorsed such provisions.
The coalition wanted to use the Labor system to help the wealthy
so they removed reasonable benefit limits which meant even if the
super account had $20million they paid no tax. Super became a tax haven,
a tax free zone for the rich. The system imo was corrupted when the
Howard govt removed reasonable benefit limits.
Turnbull to his credit made changes last year introducing a cap on super
and wow did the same people here screaming about the current proposals
scream about that.
By making the system fairer as was originally introduced young people in
fact will be pleased because they see the equity in that. They want balance
in terms of the needs of young families versus the needs of older Australians
whom everyone will become one if they live long enough!
