Mrs Rinehart statement on changes to Work Bonus
We understand the announced measure is only for 9 months and the increase translates to less than half a day of additional work on the basic wage before they are hit with a 50c per $1 penalty (tax) in addition to paying income tax. Regrettably if any upper limit is involved, the onerous paperwork involved for pensioners remains, and this by itself deters pensioners from working.
We are an ageing nation that has a participation rate of mature age workers less than the OECD average. We are missing an opportunity to reform an overly bureaucratic system that harshly penalises pensioners and veterans who would like to continue working, and who our country clearly needs in such an acute worker shortage.
Work income should be exempt from assessment with pensioners simply paying income tax like everyone else, which is successfully done overseas, so why not here too? The extra income tax from their work should be considered as repayment of pension.
It’s very, very sad to see our politicians so removed from the lives of our pensioners and vets, when pensioners and too many vets are currently struggling with and facing more rising living costs, including but not only, rising costs of power as coal fired power stations are reduced. Too many of our elderly pensioners and vets are currently needing to chose between medicines they need or being able to pay their electricity bills. Its beyond me why we are not letting our pensioners and vets work (as much as they want) without losing their pensions, paying income tax on their earnings, and without onerous paperwork. So much better for them, and so much better for the hospitals, aged care centres, kindergartens, small businesses, restaurants and hotels who have to reduce their hours or days of operation, and others desperately short of staff.
As to not letting our vets work as much as they want under such an unfair system, how on earth can anyone justify this, after they have been through so much, and even at times, risking their lives for our country? It’s unjustifiable, and how does this shocking policy encourage others to enter our defence force, which is desperately short of personnel?