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 MagazineWhy these Australian wines are at risk of extinctionMax AllenHow much to tip? And other restaurant conundrums to chew onIbiza’s ditching its party image. It reflects a wider phenomenonBOSS Financial ReviewHow these brothers turned a side hustle into $100mRachael BoltonHow this CEO wrote a report while cooking noodlesThese execs studied offshore MBAs. Here’s what they did nextLife & LeisureThe architect of Melbourne’s Eureka Tower is inviting you to his homeMax AllenThese innovative electric ferries look like nothing else on the water‘I was always constrained by budgets, but not with AI’Rich ListShuffle follows Stake into the gutterPrimrose RiordanToorak Rich Listers caught up in mansion fire‘How very Sydney’: Justin Hemmes forced to unleash charm offensive
