When Treasurer Jim Chalmers announced ambitious plans to tax earnings on superannuation balances over $3 million at 30 per cent – double the current rate – from July 1, 2025, he also declared it would only hit a small portion of Australians.

Just half a per cent in fact, or 80,000 superannuation fund members. But tax advisers say those 80,000 people, who are predominately in self-managed superannuation funds, have options to avoid this tax hit.