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
