Senator Jane Hume has confirmed there will be no adverse changes to superannuation contribution limits or the Government’s contribution flexibility measures.
Hume was contacted by Geoff Wilson, founder of Wilson Asset Management, who wrote a letter to both parties to confirm there would be no changes to super.
In her response on behalf of the Government, Hume said there would be no new or increased taxes on superannuation. There would also be no adverse changes to contribution limits, and no changes to the government's contribution flexibility measures.
There would also not be any adverse changes to:
- The flexibility measures for superannuation contributions that have been implemented, including the carry-forward or catch-up contributions, which disproportionately benefit women who are more likely to have broken work patterns;
- The "work test" arrangements, which the Liberal National Party recently legislated to remove for those up to age 75 making personal superannuation contribution;
- The downsizing contribution rules, whereby the Liberal National Party announced yesterday an extension to those aged 55 and over; or,
- The Division 293 tax threshold.
Wilson said he was still waiting for a response from the Australian Labor Party.