Both farming bodies and financial professionals have described the federal government’s switch away from some of its so-called Super Tax changes ‘a win for common sense’.
On Monday 13 October Federal Treasurer Jim Chalmers announced that his plans to overhaul superannuation taxation would no longer include a tax on unrealised gains.
The proposed tax would now also be indexed, with superannuation balances between $3 and $10 million to be taxed at 30 per cent, while balances over $10 million would be taxed at 40 per cent.
“From the beginning, the Institute . . .
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