Labor's Superannuation Tax Bill
The Australian Greens have responded to the government's reworked superannuation tax bill.
"We will take a look at the detail here, but we’re concerned that the government has further weakened what should be a tax to ensure the super wealthy top 0.5% pay their fair share of tax."
Nick McKim, Greens Economic Justice spokesperson, expressed concern that the government has weakened the tax bill, allowing the super wealthy to avoid paying their fair share.
- Labor has stripped out the tax on unrealised gains.
- The $3 million threshold has been indexed, a move that will cost the budget billions.
"It’s clear Labor doesn’t have the guts to tax big corporations and billionaires fairly."
The Greens will review the changes to low-income earners' superannuation, as they have previously called for tax relief on super contributions for this group.
Author's summary: Labor's superannuation tax bill favors the wealthy.
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