Under the Labor plan, your retired mum would have earnings of $18,000
Meanwhile until the legislation was to be passed and until the set date, she has the ability to sell those shares to invest in other areas, even overseas, that would not have her exposed to the closing the rort that many others feather their nest with. Of course this is after those many have already benefited from the super loopholes already utilised prior to retirement in creating their nest egg.
Nobody was going to have money taken from them, they were simply no longer going to have it handed to them. The nation then gets the 30% company tax on their profits to allow programs such as the poorer retired to have their teeth repaired etc.
Still, I have always advocated for allowing a low threshold amount to be grandfathered for at least a few years, so that those at the lower end and likely with less diverse investments, were not impacted.
And the fact unions were to have an exemption?
As would have all not for profit organisations.
As for unions, I have operated a small construction business for over twenty five years, both on and off unionised sites and have encountered no issues whatsoever with the CFMEU, ETU etc. Not saying that there have not been problems in some areas, but in general, I reckon that they do a lot more good foir society as a whole, than harm.