Albanese government to hike tax on earnings from big super balances – but not until 2025-26
- Written by Michelle Grattan, Professorial Fellow, University of Canberra
The tax rate on earnings from superannuation balances above $3 million will double to 30% from 2025-26.
The pre-budget decision – approved by the government’s expenditure review committee on Monday and ticked by the cabinet on Tuesday morning – cuts off what was becoming a potentially damaging debate for the government.
The...
