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Talk of a $5M Cap on Superannuation Balances., page-186

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WangChung

19,119 Posts.

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01/03/23

14:10

Post #: 66538846
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Originally posted by Old Engineer ↑

Hope this News Corp report is right:
"Instead, Labor says only earnings on balances above $3 million will be taxed at a maximum 30 per cent rather than the current maximum 15 per cent. Large super accounts will “continue to benefit from more generous tax breaks on earnings from the $3 million below the threshold,” it says.

This suggests a couple can still have $3 million each in super taxed at just 15 per cent, plus another $1.9 million each in zero-tax private pensions. That’s almost $10 million per household of low-tax nest eggs."

Reported here:

https://www.heraldsun.com.au/news/o...w/news-story/50c5a71db7620748174dd3f4d29742fc

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Yes, if you can navigate all the rules to achieve such an outcome (plenty of roadblocks in the existing legislation).
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