Politics · Australia · 4 hrs ago

Liberal MP says party should rule out changes to super access

Liberal MP says party should rule out changes to super access

Australian Liberal MP Garth Hamilton says most colleagues support keeping super rules unchanged.

The proposal would rule out letting people withdraw retirement savings early to help buy a first home.

The Coalition backed allowing withdrawals of up to $50,000 for a first-home deposit at the past two elections, and some senior Liberals have continued to support early access.

Shadow Housing Minister Andrew Bragg and Shadow Treasurer Tim Wilson have argued for ways to use super to help with home ownership.

Hamilton says super is important to Australians’ retirement security, and that changing how it is invested, taxed or accessed would undermine confidence.

He has discussed the issue with Opposition Leader Angus Taylor, who Hamilton says recognises it as an important policy discussion.

The Liberal Party has not adopted a formal policy position since its defeat at last year’s election.

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What people are saying

Garth HamiltonLiberal MP for Groom
I think we should be offering no changes at all to how it's invested, taxed or accessed
via ABC Australia
What this is trying to do is saying we hear you, we hear the challenges that Australians are facing, and we want to support that
via ABC Australia
Tim WilsonShadow Treasurer
This is why home ownership is so important, and we need it to take precedence as the primary economic interest for retirement and during your working life
via ABC Australia
Andrew BraggShadow Housing Minister
You could take it out to pay off a mortgage or to pull together a first home loan
via ABC Australia