The prime minister says he had a responsibility to act on making changes to taxes on superannuation, following departmental advice on multimillion-dollar balances. While there had been broad community support for doubling the tax rate for superannuation balances with more than $3 million, Anthony Albanese indicated other tax changes were not on the horizon. The […]
A majority of voters approve of the government’s superannuation tax plan but Labor and Prime Minister Anthony Albanese have been marked down, the latest Newspoll shows. The poll conducted for The Australian shows almost two-thirds of voters support Treasurer Jim Chalmers’ plan to double the concessional tax rate for super balances over $3 million in […]
The Liberals will go to the next election pledging to repeal Labor’s plan to increase the tax on high-end superannuation accounts. A new plan revealed by the prime minister and treasurer on Tuesday will double the current tax rate to 30 per cent for balances above $3 million from 2025/26. It will impact about 80,000 […]
Superannuation balances above $3 million will be taxed at a higher rate as the Albanese government hunts for opportunities to improve the budget bottom line. The changes won’t come in for another two years and will apply to about 80,000 people in a move forecast to generate billions in extra tax revenue. Starting from 2025/26, […]
While most people write wills, very few families discuss inheritance. Parents avoid discussing inheritance planning with their children due to the subject’s sensitivity. However, avoiding the conversation does more harm than good. For example, poor wealth management by heirs can lead to business collapse. Here are some reasons why you should discuss inheritance planning with your […]
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