Eight Changes to the Super Tax: How it Affects You Now
The Albanese Government has made significant changes to the super tax, with Treasurer Jim Chalmers reversing his initial stance on the issue.
The new super tax changes will primarily affect the very rich, but the reforms are more tolerable than initially proposed.
Key Changes
- The tax on unrealised gains has been cancelled.
- The $3 million starting point for a 30% tax on super earnings will be indexed to changes in inflation.
This change means future generations of Aussie super savers won’t be caught by the $3 million threshold, when a 15% tax on super becomes 30%.
Author's summary: Albanese Government reverses super tax changes.
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