Superannuation fund members with balances over $3 million are set to miss out on a tax break for capital gains accrued from 2025 onwards, under the Albanese government’s proposal to tax paper profits.
The flash point emerged as a member of the former Morrison government’s retirement income review, Deborah Ralston, said separately that super tax concessions were too favourable for higher earners but the $50 billion calculated by Treasury was probably overstated.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
Mark Ludlow writes on politics, energy and infrastructure based in Brisbane. Connect with Mark on Twitter. Email Mark at mludlow@afr.com
