PARLIAMENTARY SALARIES AND ALLOWANCES AS FROM 1 JULY 2019 FOLLOWING APPLICATION OF PARLIAMENTARY REMUNERATION TRIBUNAL dated 21 June 2019. Corrupt former Labor minister Ian Macdonald faces repaying a debt to NSW taxpayers potentially worth hundreds of thousands of dollars under a move to strip him of his parliamentary pension via legislation announced by Premier Gladys Berejiklian. NSW Parliamentary Record - An alphabetical record of Members of both Houses since 1824, list of Electorates, and Members returned for each and also particulars of Governors, Parliaments, Ministries and Parliamentary Officials. FEDERAL politicians considering a Robin Hood raid on the superannuation of older Australians are unlikely to feel any pain themselves as they accept a slice of the generous $45 million in pensions paid out annually to retired politicians by the taxpayer. Add articles to your saved list and come back to them any time. Potential changes to ­superannuation won’t have a great deal of impact for a ­significant portion of frontbenchers from both sides. Mr Baird also said Mr Obeid would be forced to repay more than $280,000 in legal assistance he was given for representation at the Independent Commission Against Corruption inquiry that preceded his conviction. The change will require an amendment to legislation to be put to Parliament early next year. Prime Minister Tony Abbott will earn at least $200,000 a year plus a city office, car and travel perks.

Eddie Obeid was jailed for misconduct in public office.Credit:Daniel Munoz. Most politicians have 15.4 per cent of their gross salary placed into super funds of their choice. Obeid, a former Labor powerbroker and cabinet minister, was on Thursday sentenced to a maximum of five years in jail with a non-parole period of three years following his conviction in relation to lobbying over commercial leases at Circular Quay in which his family held an interest. In the real world, superannuation contributions for people earning under $300,000 are taxed at 15 per cent while those earning over the threshold are taxed at 30 per cent. “I would love to have a bipartisan approach,” Mr Hockey said. A further 51,700 with account balances between $1 million and $2 million received around $4.9 billion,’’ the report said. Save. “I qualified under the rules and I changed the rules for new entrants, that’s the best I could do,” he said at the time. The [jail] term can't be long enough. In response, Premier Mike Baird announced MPs convicted of a serious offence during their time in office will lose their parliamentary pension, even if they quit before charges are laid.

Kate McClymont is an investigative journalist at The Sydney Morning Herald. The Obeid's legal bills for a variety of cases are believed to be more than $5 million. Beyond that, the government needed to ensure multi-millionaires did not get the same degree of support as other taxpayers. "It's confirmation that no-one is above the law. But the good news today is that justice has been served.". “If there’s a bipartisan ­approach to fixing it then we can actually have some long-term stability, which I’m ­really keen for.”. It is believed tax concessions on super cost the budget more than $30 billion a year. The Finance Department has revealed taxpayers fund the $44.6 million needed to pay for the Parliamentary Contributory Superannuation Act for those who have served in parliament. Updated May 23, 2017 — 7.46pm first published at 1.50pm. Former prime ministers John Howard, Julia Gillard and Kevin Rudd are enjoying more than $200,000 a year in pensions and perks. ", Nathan Rees, another former Labor Premier whose fall from the job Obeid was key to orchestrating, said Obeid was "the most odious politician most Australians have ever seen.". Information on Former Members has been made available with support from the Sesquicentenary of Responsible Government in NSW Committee and funding from the NSW Government. NSW Premier Mike Baird has announced MPs convicted serious offences during their time in office will lose their parliamentary pension.Credit:James Alcock. Eddie Obeid was jailed for misconduct in public office. Obeid – who was charged after he left Parliament in 2011 - faces being stripped of his lifetime annual pension worth more than $120,000 a year. Credit:Daniel Munoz. NSW. By Sean Nicholls. It didn’t stop Mr Latham from walking away with one, though. “What Labor wants to see is not the few already well-off getting a disproportionate benefit from the tax concessions but the vast bulk of people who don’t have enough being encouraged to save more for their retirement.”. To join the conversation, please log in.

Add articles to your saved list and come back to them any time. "My hope is that anyone that thinks of undertaking similar actions, they can see what happens, they will be caught, justice will be dealt out and my hope is it will never happen again," he said. Only those who entered parliament after 2004 will be subjected to a standard superannuation scheme. The legislation was flagged in December by then premier Mike Baird after Obeid's conviction in relation to lobbying over commercial leases at Circular Quay in which his family held an interest.

"I paid a heavy price personally but today is a day of satisfaction in that he's got his just deserts". The announcement means Obeid – who was charged after he left Parliament in 2011 - will stripped of his lifetime annual pension worth more than $120,000 a year. "Most importantly he's undermined the public's confidence in our democracy," Mr Rees said.

Don't have an account? "The corrupt actions of former Labor politicians Eddie Obeid and Ian Macdonald constitute a complete betrayal of public trust," Ms Berejiklian said. A sentencing hearing is set down for Friday. Sean Nicholls is the State Political Editor of The Sydney Morning Herald. Eddie Obeid to be stripped of parliamentary pension as Baird government reacts to his sentencing. The Baird government will also claw back more than $280,000 in legal assistance Obeid was given for representation at the Independent Commission Against Corruption inquiry that unearthed his misdeeds. "These changes provide a strong reminder that politicians are here to serve the people of NSW, not to serve themselves.". “Whether it is a Liberal government or a Labor government, whoever it is, we’re going to have the same problems, we’re going to have the same challenges. In March, Macdonald was found guilty of criminal misconduct over his decision to award a lucrative coal licence to a union mate, former Construction, Forestry, Mining and Energy Union boss John Maitland. It is believed the costs of having metropolitan offices on top of flights and chauffeur driven cars costs about $300,000 a year each for Mr Howard, Ms Gillard and Mr Rudd. You can find out more about our policy and your choices, including how to opt-out Sorry we couldn't find a match for that, please try again, Join the conversation, you are commenting as, - - - - - - - - - - - - - - - - - - - - - - - -, Riches to rags: Aussie star who became a window cleaner, The two pacemen Thommo rates even higher than Lillee, Australian Olympic legend suffers heart attack, ‘Pissed off’: Smith’s massive behind the scenes war with 9, ‘Missed forever’: Sam Armytage farewells mum. Macdonald was entitled to an annual, indexed pension of $135,545 at the time, meaning he would have been able to claim up to $1.3 million as a lump sum. “The system allows super accounts to be used as a tax haven by the rich.”.

If changes are introduced high-end earners would be taxed at a significantly greater rate in a bid to bring the budget back into the black.

Eddie Obeid will be stripped of his annual $120,000 parliamentary pension following his sentencing for misconduct in public office as a former NSW Premier declared it "a great day for NSW". Presently MPs convicted of a serious offence - punishable by at least five years' imprisonment - can keep their pensions if they are not charged while in office. Former treasurer Peter Costello isn’t doing too bad, ­either, pocketing $178,000 a year as a pensioner. The pensions remain for life.

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