Greens leader Larissa Waters has criticized any proposal to exempt politicians from a superannuation tax increase, labeling it as “a joke.” The Australian Greens, holding the balance of power in the Senate, are undecided on the tax affecting 0.5% of super balances, equivalent to around 80,000 individuals.
Waters cautioned the Albanese government against creating separate provisions for politicians under the plan to double the superannuation tax rate for balances exceeding $3 million. She emphasized the need for fair treatment and urged Labor to present revised plans for consideration.
Defined benefit pension schemes, which base retirement savings on a predetermined formula rather than contributions, have added complexity to the proposed super tax changes. Former public servants, politicians, and judges often fall under this category.
Labor introduced the super tax adjustments in 2023, aiming to increase tax on super balances above $3 million. However, the legislation faced challenges in the Senate, with key crossbenchers opposing certain aspects of the plan, including taxing unrealized capital gains.
Waters highlighted the Greens’ priorities, including advocating for full cancellation of higher education debt, expanded mental health care coverage under Medicare, and halting approvals for fossil fuel projects. She extended an invitation to the government to collaborate on meaningful reforms for the benefit of society and the environment.
Expressing concerns over the Coalition’s stance on achieving net zero carbon emissions by 2050, Waters urged political leaders to align policies with environmental goals. She questioned the commitment of both major parties to the net zero target, citing recent decisions supporting fossil fuel projects.
In response to the housing crisis in Australia, Waters emphasized the need for federal intervention to address inequitable tax policies that hinder access to affordable housing. She criticized the Greens’ previous obstruction of housing legislation, acknowledging the growing challenges faced by Australians in securing housing.
With the Greens playing a pivotal role in shaping legislative outcomes, Waters stressed the importance of genuine collaboration and decisive action to tackle pressing issues affecting the community and the planet. The party’s stance reflects a commitment to advocating for progressive policies and environmental sustainability.
As political dynamics continue to evolve, Waters’ leadership underscores the Greens’ dedication to driving positive change and holding government officials accountable for policies that impact the welfare of citizens and the environment.
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