Tax-free super for the super rich is a bad deal for the rest of us – and Morrison said it first
- Written by Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University
ShutterstockYou’d be forgiven for thinking Treasurer Jim Chalmers had done something dramatic.
From 2025 he will double the tax rate on earnings from superannuation balances above A$3 million, lifting it from 15% to 30%.
Only 80,000 Australians have accounts that large, and many of them who have retired have shoved the maximum permissible...