GetUp!
GetUp!

Only Super For Some



Current superannuation tax concessions mean too much government money ends up in the hands of the richest Australians, while those who need it most are missing out.

The fifteen billion dollars in super tax concessions given to the richest 10% of Australians is enough to fully fund all recommendations from the Gonski Report, implement the National Disability Insurance Scheme, and still have change left over!

The money that could be used to make massive overhauls in healthcare, education and social welfare is instead lining the pockets of those who already have enough.

Right now, we have a once in a generation shot at making the system fairer for every Australian. Today it was revealed that the government is considering superannuation reforms this year.

That won't be easy. We've learned time and again that these reforms don't happen without public pressure. Just look at recent media laws and anti-discrimination legislation. Certain investment companies are making a mint from the current scheme - and you can bet they'll be mobilising against this.

Sign the petition using the easy tool to let cabinet know that you support changes to make superannuation fairer and more equitable.

Employers are mandated to put a standard 9% on top of our salaries into our superannuation, designed to support us when we retire. We are free to put additional money into our super too. The government also contributes, only in a slightly different way. Instead of contributing cash directly, the government allows us to contribute some of the money we owe for tax into our super accounts.

Now, here's where the problem is. The percentage of their tax bill that high-income earners are allowed to keep is far higher than low-income earners. In fact, the bottom 10% of earners can get absolutely no help with their super from the government, while the top 10% are allowed to keep over $15 billion. This is money that could otherwise be spent on healthcare, education, infrastructure or any number of worthwhile areas.
Great question, it doesn't make sense to us either. Australia's wealthiest few will retire handsomely regardless of the additional concessions given to them. The money the government is choosing to give these people needs to be redistributed to areas in real need.
Of course. No one is saying the money our most wealthy people put away for retirement should be anything other than theirs, 100%. What we do believe is that these people do not need any additional help, certainly not the billions and billions of dollars they are currently receiving.

This money needs to end up in areas where it is needed most.
The government contributes to our super by allowing us to keep some of the money we would otherwise have spent on income tax.
In some circumstances, when people choose to make voluntary contributions beyond the standard 9% to their super, the government will also contribute additional money. This is called a co-contribution.

A tax concession is when the government contributes to our super by allowing us to keep some of the money we would otherwise have spent on income tax.

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SIGN THE PETITION

Current superannuation tax concession laws are unfair and unacceptable.

Australia must change current superannuation laws which provide the greatest benefit through tax concessions to the wealthiest Australians while the least well off get nothing. This money must be distributed to those who will struggle to get by in their retirement, or to areas like education, health, infrastructure and renewable energy production.

I urge you to follow through on your intention and make big changes to superannuation to make the system fairer and more equitable in the budget this May.