Opinion
Why you should worry about new super tax – even with less than $3m
These two worked examples show how the taxing of unrealised capital gains can have unintended consequences.
Peter BurgessContributorWhile the proposed tax on super balances over $3 million from July 1, 2025, is aimed at the very wealthy, many more people are likely to feel the impact.
The objective of clawing back tax concessions should be to reduce the revenue lost due to the existing concessions. It should not impose a new tax which, for some, not only claws back those concessions but results in even more tax being paid.
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