Catastrophically injured super fund members hit by super reforms
The Australian Lawyers Alliance has raised concerns that recently proposed super reforms that tax super assets supporting income streams of more than $100,000-plus will impact the catastrophically disabled and their careers.
According to ALA national president Tony Kerin, the seriously disabled nearly always hold their compensation money in allocated pensions.
ALA called on Government to take measures to exempt these compensation payments from the superannuation tax if it was to proceed, and to review the impact its proposals would have on the seriously injured.
"Every dollar is needed to meet their future care and other costs," Kerin said.
"This new tax will mean they will likely have to go without some of their care and support or that their money will run out before their life expectancy."
The new laws, which are designed to tax Australia's most wealthy to help pay for the incoming National Disability Insurance scheme, would ironically tax Australia's most disabled people, he said.
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