The retirement savings of almost 3.6 million workers, including 2.2 million women will be spared from Tony Abbott’s cuts following news that the Palmer United Party will vote to save the low income super contribution. ACTU President Ged Kearney welcomed Mr Palmer’s announcement and said it was a huge win for some of Australia’s lowest […]
Australian workers who currently earn up to $37,000 per year get a tax rebate from the Federal Government’s Low Income Superannuation Contribution (LISC). Eligible workers receive up to $500, paid annually back into their super account, on the tax paid on their superannuation contributions. The LISC rebate was introduced to make superannuation tax concessions more […]
Sales assistants, checkout operators and food preparation assistants are set to bear the brunt of the Coalition’s attack on superannuation. A bill which overturns the superannuation rebate along with the mining tax and other spending measures including the School Kids Bonus and the Regional Development Fund passed the House of Representatives on Wednesday night and has […]
Industry Super Australia (ISA) today expressed concern regarding the linking of the repeal of the Low Income Super Contribution (LISC) and the delay in increasing the Super Guarantee to 12%, as part of the Government’s repeal of the Mineral Resources Rent Tax. We are at a point in time when Australians are recognising that we […]
The Abbott Government has begun its attack on ordinary workers by drafting laws that cut taxes for big mining companies but scrap programs, including the Low Income Superannuation Contribution, that benefit low and middle-income workers. The draft of the Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 released yesterday will hurt millions of […]
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