If the government keeps welshing on its side of the superannuation compact, workers – especially those on higher incomes – will have a case to demand they do what they like with their own money.
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One of the more disingenuous arguments Labor is mounting in defence of its proposed new Division 296 tax on superannuation balances above $3 million is that there is no need to index the threshold because another government will eventually do it.
This shows that the true intent of the tax is broader than stopping the so-called leakage in the form of a few thousand people amassing asset wealth in self-managed super funds.
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Original URL: https://www.afr.com/politics/federal/look-at-what-governments-do-on-super-not-what-they-say-20250603-p5m4i1
