Government not trying to 'wreck super', Treasury says

by |
The Federal Government is backing away from comments that low-income earners should be able to opt-out of compulsory super.

According to The Australian, a spokesman for Treasurer Scott Morrison said the government is not considering a move to allow mothers, part-time workers and casual workers earning less than $37,000 a year to opt-out of paying into superannuation accounts.

The statement comes following comments from Deputy Prime Minister Barnaby Joyce, who said workers on low incomes would be better off in the long-term if they used the money allocated to super to invest in an asset such as a house.

The Federal Opposition and unions jumped on Joyce's comments, with Opposition spokesman for superannuation Jim Chalmers accusing the government of trying to "wreck super", The Australian said.

WP forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Name (required)
Comment (required)
By submitting, I agree to the Terms & Conditions