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Treasurer defends change to double tax rate for super balances above $3 million | 9 News Australia
Posted
February 28, 2023
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February 28, 2023
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17:40Now PlayingThe Albanese government has announced balances above $3 million will have their concessional rate doubled from 2025 in a bid to overhaul the superannuation industry. The change will affect 0.5 per cent for Australians and Treasurer Jim Chalmers joins Today to defend the decision that it’s not a “broken” key election promise but rather about “responsible economic management.” Australian Financial review editor John Kehoe breaks it down for what it means for the 80,000 Australians who will fall under this category. Queensland Senator Matt Canavan and Editor of Stellar Sarrah Le Marquand also weigh in to discuss.
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