The Albanese government will consider scaling back superannuation tax concessions for wealthy Australians as it seeks to repair the cash-strapped federal budget and crack down on loopholes.
Financial Services Minister Stephen Jones will tell The Australian Financial Review Super & Wealth Summit in Sydney on Tuesday that Labor is gearing up for a debate on tax concessions once the government outlines its definition of the purpose of superannuation and puts it into legislation.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@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
