Retrospective Superannuation Laws

Independent Candidate for the Senate Julie Matheson will put the blow torch to the proposed rules which makes retrospective changes to Superannuation laws if elected to represent Western Australia this election.

Julie Matheson’s career in superannuation and financial services started back in 1987. She has seen a lot of changes, but none like the proposed superannuation laws which the Government claim only affects a tiny percent of the population and the $2 trillion superannuation nest egg to help Australians get off the Age Pension.

“I am surprised there was no consultation with the financial planning profession on just how many people will be affected by these retrospective changes and the contribution limits.”

These Australian electors are most affected:

  • Divorcees who have their superannuation savings decimated by a divorce settlement only to find no further lump sums can be invested because of restrictions backdated to 2007.
  • Individuals who don’t or can’t work in 9 to 5 jobs for the next 40 years, and are unable to take advantage of the full amount of tax free retirement pension because of contribution limits. Small business owners, mums and dads out of the workforce looking after children and paying off mortgages are the biggest losers.
  • People who made sacrifices to go without income in the past so they could have more in superannuation are now penalised with tax on amounts over these proposed new limits.

“The proposed changes affect millions of Australian voters, not just a tiny percentage at the top end of Australia’s superannuation savers.”

Disappointingly, very few of Australia’s politicians seem to understand the superannuation system. When I am elected I will insist all politicians do a course to ensure they understand superannuation and the impact tinkering has on stopping Australians achieving their retirement plans.

To elect Julie, vote 1 below the line on the far right of the Senate ballot paper, then 2 to 12 for other candidates.

Julie Matheson, Independent for Western Australia in the Senate

M: 0409 294 495 |  jcmatheson@bigpond.com |  www.juliematheson.com.au

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