Minister for Revenue and the Assistant Treasurer
27 January 2006 - 3 December 2007
Monday, 23 July 2007
$840 Million In Super Co-Contribution Payments Go Straight To NSW Workers
The Howard Government has contributed over $840 million into the superannuation accounts of NSW workers over the first three years of the Government’s Super Co‑contribution scheme, Minister for Revenue and Assistant Treasurer, Peter Dutton, announced today.
“This excellent result has been made possible by the Government’s doubling of Super Co‑contribution entitlements for the 2005-06 financial year, as announced in the 2007 Budget,” Mr Dutton said.
“People whose superannuation funds have received this extra co-contribution will be informed over the coming weeks. To date extra payments totalling over $250 million have been made for over 300,000 people in NSW who made personal super contributions during 2005-06.”
Mr Dutton said was important for workers in NSW to realise that these improvements to superannuation returns didn’t just ‘happen’. They have come as the result of strong economic management by the Howard Government.
“It is very important for all Australians to realise that if Labor is elected they will allow the economy to go backwards and workers superannuation savings will suffer. Labor and their union bosses will run the economy just like they did last time.”
“This will directly cripple the ability of workers in NSW to save for their retirement,” Mr Dutton said.
The Tax Office will make further payments as people continue to lodge their 2005/06 tax returns and their co-contribution is calculated.
Media Contact: Brad Emery (02) 6277 7360 or 0414 225 638