Jim Chalmers finally unveils the specific changes he’s making to the nation’s superannuation system – for the first time revealing how the new system will work
- Treasurer Jim Chalmers outlines super crackdown
Treasurer Jim Chalmers has revealed Australians with more than $3million in superannuation savings will no longer be able to pay a concessional tax rate.
Australians can deposit up to $27,500 a year into their super and pay a low tax rate of just 15 per cent.
But from 2025-26, Labor wants those with more than $3million in their super to pay a higher tax rate of 30 per cent.
Treasurer Jim Chalmers has revealed Australians with more than $3million in superannuation savings will no longer be able to pay a concessional tax rate
