Taxpayer group rejects super increase

Taxpayer group rejects super increase

The Australian Taxpayers' Alliance (ATA), represented in the Dubbo region by Mick Etheridge who heads the ATA Country Chapter, is calling for the complete abandonment of a 12 per cent hike to compulsory superannuation.

"Right now, most Australians are just trying to get by. We shouldn't require them to put away extra money in their supers when every cent matters," Australian Taxpayers's Alliance policy director Emilie Dye said.

"Increasing mandatory super from 9.5 per cent to 12 per cent, is a 2.5 per cent pay cut in the eyes of many. With less disposable income, Australians will be forced to cut back their spending even further. This will slow the economy even more."

The superannuation guarantee is currently 9.5 per cent of a person's wage, rising to 10 per cent next July, with staggered increases to 12 per cent by 2025.

This article first appeared in Dubbo PhotoNews 2 September 2020