Labor's Superannuation Tax Bill
The Australian Greens have expressed concerns over 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, stated that the government's decision is a gift to the super-rich, costing the budget billions.
- Labor has stripped out the tax on unrealised gains.
- The $3 million threshold has been indexed.
The Greens have been advocating for tax relief on super contributions for low-income people, and will review the changes to ensure they are fair.
"It’s clear Labor doesn’t have the guts to tax big corporations and billionaires fairly."
Author's summary: Greens criticize Labor's superannuation tax bill.