Advance Australia, a new lobby group that has been likened to a conservative Get Up!, is campaigning against Labor’s franking credit policy.
The Advance Australia website currently lists only two campaigns: one opposing Labor’s policy to stop refunds of franking credits for many taxpayers and other around not changing the date of Australian Day.
“Having certainty means you can plan for your future with confidence. So when politicians keep re-writing superannuation laws, it suddenly makes your hard-earned retirement less certain. Once again, politicians are seeking to move the goalposts on superannuation,” says the webpage for the Hands off My Super campaign.
Advance Australia claims that “Labor believes scrapping the tax credit will give them billions of dollars a year to increase Government spending on welfare. They are taking the money off hard working pensioners and retirees to give it to others – that’s not fair”.
Labor tweaked its policy to exclude Age Pensioners and SMSFs with members receiving the age pension at the time of the announcement. The Coalition has increased taxes on superannuation with its changes in recent years, for instance by more than $5.2 billion over four years via the Treasury Laws Amendment (Fair and Sustainable Superannuation) Act 2016.
According to reporting by the ABC, Advance Australia is supported by business leaders and its national director, Gerard Benedet, was the chief of staff to Queensland LNP Tim Nicholls. He told 7.30 that the group is “not aligned to any political party”.
The petition – which asks for email address, phone numbers and address – reads:
Dear Bill Shorten,
Together, with many other hard-working Australians, I’m calling on you to abolish Labor’s new superannuation tax laws that will force many Australians to work longer and harder before retiring.
It’s shifting the goal posts on retirement—and that will leave many people fearful about their future. It’s just not fair.
My fellow Australians and I need certainty in order to plan for a secure retirement—so Labor needs to scrap its plans to abolish the imputation tax credit refund.
Please take action to help us Advance Australia—and scrap your super plans that will put my retirement funds in reverse.
The petition has over 2,200 signatures at the time of writing, with a current target of 5,000. Another petition against Labor’s policy, run by Wilson Asset Management, had over 25,000 signatures earlier in November, according to Chairman Geoff Wilson.