Dear Hon Julia Gillard MP,
I have been reading a lot this week about the possible changes to superannuation and I am extremely concerned!
In the interest of my clients and what I believe to be the majority of the voting taxpayers across Australia, I thought that any Federal Government would and should be doing everything in their power to encourage people to save money inside of their superannuation funds, rather than discourage.
As an accountant, I am trying to encourage people every single day to become financially responsible not only today, but for their future and their retirement years. It is actually a battle trying to convince people to save for their retirement in a time when the cost of living is increasing and people are struggling to make ends meet. It is made no easier when there is speculation out there that the rules and regulations around superannuation are changing, and the goal posts will be shifted again.
Over the last few years we have seen the deductible contributions levels drop in superannuation from $100,000 down to a maximum of $25,000. This alone has deterred many people from saving what they could for the benefit of themselves along with their families in their retirement. So the concept of the so-called wealthy shoveling massive amounts of money into superannuation to avoid tax is absolute nonsense – it simply can’t be done!
Now the rules will be supposedly changing again to further tax those that have done the right thing in the past and saved for their retirement. I understand that you are assuming there is a money pot just sitting there for you to get your hands upon – but, please don’t. As the leader of this country you are responsible for creating a sustainable country, you should be doing everything in the best interest for the population, not only for today but also for tomorrow.
The Government is painting a picture for us which encourages us not to rely on CentreLink and the aged pension, but to fund our own retirement. Those that have been doing as requested by you, saving and becoming that true Self Funded Retire should be rewarded, not penalised.
So I urge you not to raid the piggy bank of many by changing the laws for superannuation again – I challenge you to create stability and confidence in the area of superannuation. Don’t play with our retirement and stop shifting the goal posts – instead encourage and facilitate people saving for retirement.
This is surely for the benefit of a better Australia. I would value to opportunity to speak about this with you in person.