27 November 2018

Corangamite Seniors Forum to address Labor’s retiree tax

Corangamite residents are warmly invited to the Seniors Forum in Grovedale on Friday 30 November 2018 with Minister for Senior Australians and Aged Care, Ken Wyatt AM, MP.

Together we will be answering resident concerns and listening to feedback and aspirations from 3:00-5:00pm at the Grovedale Community Hub, 45 Heyers Road, Grovedale.

There will be a strong focus on the detrimental effects Labor’s retiree tax will have on senior Australians. There are 8,900 people in Corangamite whose hard earned savings will be raided by Labor’s plan which represents a $45 billion tax grab over 10 years to 2028-29.

Labor’s retiree tax would hurt retirees and low income earners by abolishing tax refunds for share dividends and would punish those who work hard to be self-reliant.

When retirees and low income earners get a refund on share dividends, it is because the tax has already been paid by the company.

Labor’s Retiree Tax would change the goal posts. It would hike taxes on 900,000 individuals, 200,000 self-managed super funds and 2,000 super funds.

This is unfair and short sighted. It would lead to more people relying on the Age Pension.

Most people affected are not wealthy. In fact, 84 per cent of people who would be impacted are on taxable incomes below $37,000.

Many retirees in Corangamite rely on tax refunds from share dividends to help pay the bills. We need to stand up for them.

The Morrison Government will keep tax refunds for franking credits. By carefully managing the economy, we can guarantee essential services and keep taxes low.

Unfortunately, Labor can’t be trusted to manage Australia’s economy. When Labor runs out of money, they end up coming after yours.

Our Government’s record aged care investment includes:

• The rollout of an extra 20,000 high-level home care packages, with package numbers to grow from 87,000 to 151,000 so senior Australians can live in their own homes for as long as they can

• A record 13,500 additional residential care places to be allocated this year

• $60 million in capital grants for new and expanded aged care facilities

• A new Aged Care Quality and Safety Commission to provide a one-stop shop for aged care quality and regulation

• A record $102.5 million commitment to older Australians’ mental health

• A $61.7 million overhaul of My Aged Care

• An online aged care provider comparison system

• Health, career and finance checks for 45 and 65 year olds for future planning

• Pensioners will be able to earn $7,800 per year without affecting their pension

27 November 2018