Page 13 - Insights Statement News Today

Younger workers will be relatively worse off at retirement due to the government’s refusal to index its proposed $3 million superannuation cap.

Former Greens adviser Ben Oquist, who is married to senator Sarah Hanson-Young, has long been a campaigner against superannuation tax sweeteners.

Tax breaks on superannuation earnings and contributions will amount to $48.2 billion this financial year, but this is dwarfed by the various CGT exemptions.

The federal government is moving ahead with changes to superannuation taxation. The Treasurer has confirmed Labor will double tax rates paid by those with over $3 million in their super despite stati

After a week of backlash from all sides of politics, the Albanese Government has revealed its proposed superannuation reform despite pledging before the election the scheme would remain unchanged.

Around 80,000 people are expected to be affected by the decision to increase the tax rate on earnings on large super balances to 30 per cent.

Treasurer Jim Chalmers wants a contest over super taxes at the next election by daring the Coalition to go in to bat for the wealthiest retirees.

Labor’s proposed superannuation tax changes have been slammed as “another broken promise” and a sign of things to come, with the Opposition predicting the government will impose additional new taxes to fund their unrestrained spending.