New modelling has flagged concerns more Australians could be affected by Labor's tax on superannuation as the Albanese Government rules out introducing indexation on the $3 million cap.
The Albanese Government has been accused of"downplaying" the impact of its superannuation changes following the release of new data by the Grattan Institute. superannuation reform would only affect 0.5 per cent of AustraliansFrom 2025-26 super funds valued at more than $3 million will not benefit from generous tax concessions on earnings.
The Albanese Government has been accused of"downplaying" the impact of its superannuation changes following the release of new data by the Grattan Institute. Picture: NCA NewsWire / Martin Ollman "This shows you without indexation, at the moment, by 2025 only 0.5 per cent of balances are affected. But over three decades beyond that point until 2052... the top 10 per cent of incomes is believed to be scooped up into this change," she told Sky News host Laura Jayes. "Grattan's point here is that, that is at least 10 elections or so away from actually taking place.
"My intention is not to index it because we need to make superannuation more sustainable over time," he said. "The problem is over time the number of people affected who tip over into that $3 million point, we just don't know how many people that will be and the Treasury has not modelled that yet," she said.
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