Independents do government a favour by refusing to support super tax
Taxing unrealised gains would harm savers and investors in high-growth companies like Canva and damage the economy by removing much needed risk capital.
No government would be reckless enough to introduce legislation that disrespects young people, treats farmers unfairly, and hurts small business owners and Australian investors just months out from an election – especially when they are lagging in the polls.
During a tumultuous final day of parliament, the Coalition, together with Senators Jacqui Lambie and David Pocock refused to support legislation that sought to tax unrealised gains on super balances over $3 million.
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Geoff Wilson is chairman and chief investment officer at Wilson Asset Management.
