But the devil is in the detail, so the potential for complexity lies in how the “proportion” and “earnings” amounts are worked out.
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Even though it’s not yet been legislated, there have been many questions in recent months about how the proposed new tax on people with more than $3 million in super is supposed to work.
What is intriguing is that one of the government’s main selling points on this legislation has been how simple it is. And yet judging from the questions being asked, it’s seen as anything but simple.
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Original URL: https://www.afr.com/wealth/superannuation/why-the-proposed-new-3m-super-tax-is-simpler-than-you-think-20240603-p5jiva
