PolicyTax & SuperSuperannuationPrint articleIndustry funds urge Labor to use super tax savings to close balance gapHannah WoottonColumnistUpdated Feb 28, 2023 – 6.45pm, first published at 1.34pmSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginTwo of Australia’s biggest industry super funds have called on the Albanese government to spend some of the $2 billion it generates from taxing earnings on fund balances over $3 million at 30 per cent on closing the gender gap in retirement savings.The prime minister announced on Tuesday that Labor will tax earnings from superannuation balances over $3 million at 30 per cent, up from 15 per cent, in a move it says will affect just 0.5 per cent of super fund members.Loading...Hannah Wootton is a Rear Window columnist, based in Melbourne. Connect with Hannah on Twitter. Email Hannah at hannah.wootton@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleIntroducing your NewsfeedFollow the topics, people and companies that matter to you.Find out moreRead MoreSuperannuationSuper warsAnthony AlbaneseTax minimisationJim ChalmersLatest In Tax & superFetching latest articlesMost Viewed In PolicyThe Australian Financial Review MagazineSports stars keep shifting their watch brand allegiancesBani McSpeddenDark Emu beer with native grains at this destination breweryCrocs turn 23 years old. Time to grow up and get shoesBOSS Financial ReviewFour women who started businesses after the age of 45Sally PattenWhat happened when Domain learnt it spent $36m a year on meetingsThe country’s highest-paid directors revealedLife & LeisureA backyard beehive and an on-trend merino sweater to wear this winterEugenie KellyWill BMW’s Neue Klasse range be the game-changing EVs they promise?The Australian gallery that made art fun turns 20Rich ListProperty billionaire Nick Andrianakos dies in GreeceYolanda RedrupCannon-Brookes describes ‘deep internal conflict’ over his private jetOscar Piastri on the secret of his $41m-a year success
