Assistant Treasurer Stephen Jones has stood firm that the Albanese Government is 'absolutely not' breaking an election promise by assessing the future sustainability of superannuation.
The Treasurer and the Prime Minister have gone on a media blitz in recent days spruiking the Albanese Government’s plan to revamp Super and clearly identify the funds’ objectives.
However, Mr Jones flatly denied breaking any promises and signalled that measures would be aimed at “excessively high” Superannuation balances not typical of the average Australian. Current tax concessions allow people to contribute up to $25,000 annually at a reduced concessional tax rate of 15 per cent.
“We actually took policies to the election which foreshadowed that we’d make some changes, particularly some finetuning around the way superannuation funds are managed, the way they’re regulated,” Mr Jones said. “Australians shouldn’t expect major changes to superannuation if the government changes hands,” Mr Chalmers told ABC Insiders in March 2022.
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