Superannuation tax breaks | Treasury Ministers

Feb 28, 2023 · This modest adjustment to tax breaks for the biggest accounts is expected to generate revenue of about $2 billion in its first full year of revenue after the election. The 2022‑23 Tax Expenditures and Insights Statement released today shows that the revenue foregone …

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Superannuation Tax Breaks | Treasury Ministers

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treasury.gov.au

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Labor's Responsible Plan To Tax The Retirement Earnings Of …

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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. The idea was floated by Scott …

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‘One Fact Stands Out’: Chalmers Targets Tax Breaks For Super

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Feb 20, 2023 · Treasurer Jim Chalmers wants to first nail down the objective of superannuation, but inevitably a more ferocious debate awaits him on the $50 billion of annual tax breaks for …

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Jim Chalmers Pushes Ahead With $3 Million Superannuation Tax …

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Oct 2, 2023 · Treasurer Jim Chalmers proposed the move in February, which will double the tax from 15 per cent to 30 per cent on earnings from superannuation balances over $3 million. “A …

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A $50 Billion Reason To Target Super Concessions, But Could Tax …

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Feb 28, 2023 · Treasurer Jim Chalmers has set the scene for a battle on superannuation tax concessions. ... Treasurer Jim Chalmers caps super tax breaks for accounts with more than …

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'End The Super Wars': Treasurer Unveils Goal For Superannuation

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Feb 20, 2023 · For example, retirees with more than $1.7 million in their super accounts are allowed to leave their excess money in their accumulation accounts and receive a …

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Prime Minister Denies Changes To Super Accounts Over $3m …

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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. Treasurer Jim Chalmers said …

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Superannuation Tax Breaks - Jimchalmers.org

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This modest adjustment to tax breaks for the biggest accounts is expected to generate revenue of about $2 billion in its first full year of revenue after the election. The 2022‑23 Tax Expenditures …

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Superannuation Sting: Jim Chalmers Takes Aim At Tax - Financial …

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Mar 2, 2023 · Albanese and Chalmers argue that because the super tax on accounts above $3 million will begin after the next election, it is not a broken promise. Australians will have their …

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Superannuation: David Murray Attacks Labor And Treasurer Jim …

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Feb 20, 2023 · Announcing Labor’s long-awaited draft purpose for super, Treasurer Jim Chalmers warned the $50 billion annual cost of tax breaks for superannuation was not “sustainable” as …

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Labor Defends Potential Super Changes That Coalition Says Would …

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Feb 26, 2023 · Speaking from India, Mr Chalmers told Sky News the tax breaks on these accounts were costing the budget close to $1 billion. But he insisted the government hadn't …

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FAQs about Superannuation tax breaks | Treasury Ministers Coupon?

What does Jim Chalmers want to do about superannuation?

Treasurer Jim Chalmers wants to first nail down the objective of superannuation, but inevitably a more ferocious debate awaits him on the $50 billion of annual tax breaks for super. Chalmers admitted as much in a significant speech on Monday about the future of the $3.3 trillion superannuation pool. ...

Did AAP Treasurer Jim Chalmers make'modest adjustments' to Super?

Treasurer Jim Chalmers has made "modest adjustments" to super for the wealthy. Photo: AAP Treasurer Jim Chalmers opened the gates to reform last week with the wording of the long-awaited objective of superannuation to be legislated later in the year. ...

What did Jim Chalmers and Anthony Albanese say about superannuation?

Jim Chalmers and Anthony Albanese have announced changes to superannuation that mean those with millions in their accounts will have to pay more tax. (ABC News: Nicholas Haggarty) You would be forgiven for thinking Treasurer Jim Chalmers had done something dramatic. ...

Should Chalmers pick off individual tax breaks?

The latest super tax change suggests Chalmers favours picking off individual tax breaks, rather than pursuing a major package of reforms involving trade-offs for everyone. ...

Are super tax breaks on the treasurer's agenda?

Chalmers admitted as much in a significant speech on Monday about the future of the $3.3 trillion superannuation pool. Super tax breaks are clearly on the Treasurer’s agenda in the lead up to the May federal budget. ...

How much does a super tax break cost?

(ABC News: Matt Roberts) Just before announcing a crackdown on super tax concessions for the wealthy, Treasurer Jim Chalmers set the scene for the battle no doubt to come. New costings from Treasury released on Tuesday showed superannuation tax breaks cost the federal budget about $50 billion a year and largely flow to high-income earners. ...