A Labor Party tax proposal is criticized by critics who claim it would tax self-funded retirees twice.
Under this policy, retirees paid tax on the profits already taxed of a business. In addition, a proposal would eliminate tax refunds on stock dividends, which, according to critics, would also prohibit tax refunds for self-funded retirees.
Gerard Benedet, national director of Advance Australia, said the Labor Party's proposal affects millions of self-financed retirees, including those on low incomes who rely heavily on cash repayments of Australian stocks.
"According to the labor policy statement, the new tax concerns the reduction of tax benefits granted to millionaires, but in reality, retirees who are going to be hit by the tax on retirees are not the only taxpayers. wealthy elite, but your capital-adjusted average, "he said.
Advance Australia stated that 84% of Australians on whom the proposal should be allocated had a taxable income of less than $ 37,000. Adding to the equation the depressed shared market and the weakening of the housing market, the proposed policy risks putting pensioners in distress, he said.
Benedet also warned against the possibility that "retiree tax" would also be applied to retirees.
"For years, Australians have planned retirement on the assumption that the dividend allocation rules, which have always enjoyed support from both sides of the policy, would support their retirement income. Self-financed retirees are upset by the prospect of a significant reduction in their retirement income and, ultimately, it is unfair, it is not Australia that we know and love, "said Benedet.
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