Superannuation tax changes will not be indexed, says treasurer.

Let's break it down. Currently, when you're still working and adding money to super (called the accumulation phase) the earnings from your super investments are taxed at 15 per cent. As part of the propose… See more

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Superannuation Tax Changes Will Not Be Indexed, Says… - Inkl

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Mar 1, 2023 · They will still pay a 15 per cent tax rate on earnings on their retirement savings up to $3 million, but will have to pay the higher tax rate on the remainder. "It's not a major change …

inkl.com

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Superannuation Update: More Than 500,000 Aussies Face Paying …

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The new analysis estimated when younger people start to retire over the coming decades they will face paying the tax because the $3 million cap not indexed to inflation, reports The Sydney ...

9news.com.au

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Keating Warns On Labor’s $3m Super Tax - Financial Review

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Aug 23, 2024 · Former prime minister Paul Keating has warned Labor’s plan to double the tax on retirement savings over $3 million could turn superannuation into a low- and middle-income …

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$3 Million Super Tax Draft Laws To Be Unveiled - The Sydney …

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Oct 2, 2023 · Treasurer Jim Chalmers will release his draft superannuation tax changes on Tuesday. ... The ATO says people with balances above $50 million increased from 78 to 107 …

smh.com.au

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‘Not Indexing The $3 Million’: Deputy Prime Minister Richard …

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The new figure, which is double the current rate, is expected to yield as much as $2 billion in its first full year. Treasurer Jim Chalmers has insisted the modest changes are necessary to …

skynews.com.au

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Government Confirms Super Balances Over $3m To Be Taxed At 30%

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Mar 1, 2023 · Individuals with superannuation balances surpassing $3 million will see their tax rate double to 30 per cent from 2025–26, Treasurer Jim Chalmers said on Tuesday. Currently, …

ifa.com.au

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Labor's Superannuation Tax Changes Are A Low-risk Plan For …

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Mar 1, 2023 · Jim Chalmers isn't the first treasurer to act on a rort that allows retirees with $1.7 million in a retirement account to escape a tax bill of $85,000. This cautious approach worked …

abc.net.au

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Tax To Double On Superannuation Earnings For Balances Over $3 …

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Feb 28, 2023 · PM Anthony Albanese says the changes, to take effect from July 1, 2025, will bring in about $2 billion in additional tax over four years. Tax to double on superannuation earnings …

smh.com.au

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Changes To Superannuation Are Being Floated By The Federal …

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Feb 22, 2023 · Political ideology and business interests have long guided decision-making on what happens to people's superannuation. But the $3.3 trillion in retirement savings belongs to …

abc.net.au