Superannuation backflip open in Senate
Centre Alliance's senator Stirling Griff and One Nation senator Malcom Roberts want to delay the rise in compulsory superannuation after the Prime Minister said a rethink was in order because of the impact of COVID-19.
The Morrison government potentially needs just one more Senate vote to delay the rise in compulsory superannuation contributions, after two crucial crossbench senators expressed concern that increasing the rate to 12 per cent of wages would hurt the economic recovery from the COVID-19 recession.
The government said on Monday the negative impact on take-home pay from higher super and politics would influence its yet-to-be-made decision on whether to proceed with the legislated rise from 9.5 per cent.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Tax & super
Fetching latest articles