Last week I had a big turnout at my roundtable on Labor’s Retirees and Pensioners Tax. It goes to show just how worried the community is about Labor’s shameless retiree tax grab.
Thanks to the Assistant Minister to the Treasurer for coming out to Bonner to hear my constituents’ concerns. Many people had horror stories about what Labor’s policy will mean for them.
Betty, a self-funded retiree from Wynnum, told me it would affect her portfolio greatly—potentially forcing her to dip into her capital.
Denis from Wakerley told the room that in terms of his own super fund, he stands to lose 20 per cent of his income if Labor gets their proposal through.
I didn’t invite along millionaires to this session; they weren’t the ‘top end of town’, as Labor would have you believe they’re targeting with this tax. These are ordinary people, just like you and me, who’ve tried to be self-reliant. Now Labor wants to take 20 or 30 per cent of their income to fund their unsustainable spending!
Almost a million retirees and pensioners will be immediately affected. Dave from Mansfield also made a great point. He was a third generation Labor voter until they announced this reckless new policy. Now he’s worried about his niece’s and nephew’s and other younger people’s ability to generate a decent income for their future.
I invite my constituents who’d like to share their own story about the terrible impact of Labor’s Retirees and Pensioners Tax to contact me.