The superannuation industry has rubbished Treasurer Jim Chalmers’ claim that the government consulted openly about reforming the sector before launching its plan to raise the tax rate on super balances above $3 million.
Chalmers told reporters this week the federal government conducted multiple rounds of consultations and provided “years of opportunities” for anyone to suggest “a better, fairer way” to calculate the application of tax on super earnings.
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Michelle Bowes writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com
