What You Need To Know About... The New Superannuation Tax with Robert Carling
Centre for Independent Studies
English - July 21, 2023 10:00 - 18 minutes - 25.3 MB - ★★★★★ - 1 ratingNews Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
At the time of recording, the details of the proposal are still not known in full. However, enough was revealed at the time of the government’s original March 1 announcement and in subsequent elaboration, that we are able to sketch an outline of the new tax.
The proposal is that beginning with fiscal year 2025-26, every individual’s total superannuation balance aggregated across as many super fund interests as they may have will be tested against a $3 million threshold.
If the government perseveres with this, the proposal needs substantial modification to remove its more draconian features.
Read our research here: https://www.cis.org.au/publication/superannuation-tax-why-the-total-balance-threshold-should-be-shelved/
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