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Green light looms for Labor on super tax changes

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Labor is on track to win crossbench approval for curbing tax concessions for Australians with more than $3 million in superannuation, after Tasmanian Senators Jacqui Lambie and Tammy Tyrrell joined a growing bloc signalling support.

But the move to impose higher taxes on funds well above the national average might not go far enough for the Greens, who could push the Albanese government to lower the cut-off for concessions to $2 million.

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Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com
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

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    Original URL: https://www.afr.com/politics/federal/green-light-looms-for-labor-on-super-tax-changes-20230224-p5cnd3