Labor’s superannuation change is ‘too complicated’ and a ‘tax nightmare’ #Labors #superannuation #change #complicated #tax #nightmare #englishheadline


Clime Investment Management Chairman John Abernethy says he doesn’t believe the government’s tax increase to super balances over $3 million will happen.

“Because it’s too complicated,” he told Englishheadline Business Editor Ross Greenwood.

“You’ve got a pension going up to $1.9 million in assets – so that’s the tax-free pension.

“Above that, you go into a 15 per cent accumulation, and above $3 million, you go into a 30 per cent tax bracket, all taxed on income.

“So how’s that going to be worked out? This is going to be a tax nightmare.”

English Headline

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