Senior Australians are on board to help meet the shortage of workers in the economyarticleRelatedInlinePrimary, but only if the federal government fixes the punitive income test that discourages them from participating in the workforce.
The Australian Chamber of Commerce and Industry, with backing from state and territory chambers of commerceorigImageSize, is calling for an increase to the threshold on the work bonus scheme so people can earn more before their pension is reduced.
Under the scheme, a pensioner can earn an average of $480 a fortnight – or $12,840 a year – before their payments are reduced, at an effective marginal tax rate of at least 50 per centThe virus that..., ACCI says.
This is the equivalent of only one day a week at the minimum wage before their pension is reduced.
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