How the $3m super tax whack might hit property investors
Plans to tax unrealised gains on super balances have investors considering options. Here’s what calculations about the potential impact of the tax show.
Somebody with a $1 million investment property in their superannuation could have to pay an additional $778,760 in tax over 10 years under Labor’s plans to tax earnings on balances above $3 million at 30 per cent, according to analysis for AFR Weekend.
The potential tax hit from the proposed changes is alarming wealthy super savers and forcing some to make choices between low-yielding income or higher capital growth strategies, financial advisers say.
Duncan HughesReporterDuncan Hughes is a Walkley award-winning personal finance reporter, based in our Melbourne newsroom. Connect with Duncan on Twitter. Email Duncan at duhughes@afr.com.au
