CANBERRA, ACT, Oct. 13 -- The Treasurer of Australia issued the following transcript:
Note
Subjects: Better Targeted Superannuation, BHP iron ore shipments, Queensland energy policy
Jim Chalmers:
This morning on my recommendation the Cabinet agreed practical changes to make the superannuation system stronger, fairer and more sustainable. There are 6 main changes to the proposal that we put forward a couple of years ago, including one entirely new element, which is an increase to the Low Income Superannuation Tax Offset. These are sensible changes which take more than 2years of feedback into account.
We have worked through the issues and we found another way to deliver on the same objectives. This means a better deal for low‑incom...