The extra earnings tax of 30% is only on Superannuation (accumulation phase) balances over $3,000,000. Anything below that figure is taxed at the lower rate if 15%.
A retired couple can have $1.9m each in pension phase (that's $3.8m) plus $3m each in Super (that's 6m) before the extra tax kicks in.
so the extra tax does only affect 0.5% of Australians (for now!)
