The National Foundation for Australian Women deplores both the content and process of the Bill now before the Parliament. We urge the Parliament to reject the Bill.
The current superannuation system, which is based on lifetime earnings, provides much greater tax benefits to those with the capacity to contribute more during their working life and high balances to support tax free pensions in retirement.
Economic Security 4 Women is an alliance of women’s organisations united in the belief that economic wellbeing and financial security are essential for women and will enable women of all ages to have an equal place in society.
NFAW has a strong policy of support for women to make their own life choices – to choose to be a home maker, to choose to do paid work, to choose part time work if that is a real choice. Responsibility for bearing and rearing children, rightly or wrongly falls mostly on women.
NFAW is concerned about the effect of the changes to FTBB contained in the Bill on the poorest families in Australia, and particularly concerned about the effect on sole parents.
In Australia there are three pillars for retirement incomes – income support, superannuation and individual savings. This section addresses women and income support in the retirement incomes system.
NFAW and the Equality Rights Alliance submit that tax reform must be examined through a gendered lens to identify any impact that reform may have on women. Specifically, the economic impact on women are often the result of gender blindness that does not recognise the different effect that policies have on women because of the circumstances of women’s lives.
In recent consultations with women throughout Australia, women identified a range of issues as relevant in determining the extent to which they are able to engage in the work force.
NFAW believes the process of Reform of Australia’s Future Tax System, and the October 2011 Tax Forum are a key opportunities to introduce changes which will enhance gender equality in the work-place, together with the promotion of greater fiscal vertical equity.
