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Fri Mar 3

Albanese government to hike tax on earnings from big super balances – but not until 2025-26

Written by Michelle Grattan, Professorial Fellow, University of Canberra

The tax rate on earnings from superannuation balances above $3 million will double to 30% from 2025-26.

The pre-budget decision – approved by the government’s expenditure review committee on Monday and ticked by the cabinet on Tuesday morning – cuts off what was becoming a potentially damaging debate for the government.

The...

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