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Bill Shorten sparks political firestorm with superannuation tax claim

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16.04.2019

Labor leader Bill Shorten has sparked a political firestorm over superannuation after telling voters he had "no plans" to increase taxes on their nest eggs despite taking four policies to the election to raise at least $18.9 billion over a decade.

More than one million Australians could pay more tax on their super under Labor plans, including stricter caps on payments into funds and a bigger contributions tax for workers on higher incomes.

Opposition Leader Bill Shorten has sparked a political firestorm over superannuation.Credit:Alex Ellinghausen

Labor rushed to clarify its position after Mr Shorten also struggled on climate change policy when asked about the economic impact of his pledge to reduce carbon emissions, including a new permit scheme for manufacturers.

Prime Minister Scott Morrison declared he would not make changes to super if he held power at the election, adding that Mr Shorten "must have forgotten" the Labor policies to raise more revenue.

The economic debate is likely to intensify on Wednesday when the Treasury and Finance departments release the Pre-Election Fiscal Outlook, an update that will set the budget baseline for the election campaign.

The contrast on super deepens the political fight over Labor tax policies that raise $157 billion over a decade according to a contested government analysis of its changes to negative gearing, capital gains tax, dividend imputation, family trusts and super.

Rice Warner executive director Michael Rice said the Labor policies on super qualified as tax increases,........

© Brisbane Times