A CYN­I­CAL IDEA, BILL

Herald Sun - - NEWS - TOM MINEAR

AUS­TRALIA’S age­ing pop­u­la­tion means the Bud­get bot­tom line will blow out if re­tirees haven’t saved enough to sup­port them­selves.

But self-funded re­tiree Greg An­gelo says La­bor’s share tax plan is the lat­est pol­icy that is “re­duc­ing the ca­pac­ity of peo­ple to save for their own re­tire­ment”.

Mr An­gelo (pic­tured) faces los­ing sev­eral thou­sand dol­lars in div­i­dend tax cred­its un­der the pro­posal.

He says it’s an “ab­hor­rent” and “cyn­i­cal” idea be­cause the cred­its were de­signed to off­set tax com­pa­nies paid be­fore giv­ing div­i­dends to share­hold­ers.

“I un­der­stand gov­ern­ments are short of money — they seem to waste a lot — but my prob­lem is these changes make it harder for peo­ple to save,” he said.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.