The vast majority of people who will be hit by Labor’s proposal to double the tax on superannuation balances above $3 million are aged over 65, an analysis of more than 200,000 self-managed super funds suggests.
Families who own property such as commercial buildings and farms in self-managed super funds will also feel the sting of the extra tax because it will be calculated on unrealised capital gains, sparking concerns they will be forced to sell.
Loading...
Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
