The super tax breaks in the firing line
With tax concessions totalling more than $40 billion last year, which areas are likely to be targeted?
Superannuation tax concessions are back in the firing line. Speaking at The Australian Financial Review Super & Wealth Summit last week, Financial Services Minister Stephen Jones revealed Labor was gearing up for a debate on concessions once it had defined the purpose of super in legislation.
Curtailing the tax concessions paid to Australia’s wealthiest superannuants would raise billions of dollars annually and help repair the cash-strapped federal budget.
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