One Nation proposes letting rent or mortgage payers take 3 points of compulsory superannuation as wages for three years. ABC News, Reuters and The New Daily corroborate the same mechanism and weigh its short-term cash gain against the loss of long-term savings.
The employer would continue paying the 12 per cent compulsory superannuation contribution. For an opting-in rent or mortgage payer, the fund would redirect 3 points into take-home pay, leaving at least 9 per cent in the account. All three reports say the option is limited to future contributions and a maximum of three years.[1], [2], [3]
The plan taxes the redirected amount at the 15 per cent concessional rate. On One Nation's example, an employee earning about 90,500 Australian dollars would receive around 2,300 dollars more after tax each year, or 44 dollars a week. Those are the proponent's figures; individual results could vary.[1], [2]
Existing retirement balances would not be withdrawn, but less money would enter the account for three years and potential investment returns on that money would also be forgone. The government and unions therefore argue that long-term balances would shrink. The plan is not law; take-up and losses across ages and incomes remain open questions. Any comparison with the weekly gain therefore also needs to account for forgone compounded returns, not only the redirected contributions.[1], [2], [3]
