The government’s contentious plan to increase the tax on superannuation balances over $3m has been all but abandoned, amid concerns that it could expose Labor to a repeat of the damaging franking-credits campaign that helped cost it the 2019 election.
As the prime minister moves to strip away anything politically damaging before he takes Australia to the polls, the treasurer’s superannuation legislation was left off a list of 36 priority bills sent to senators on Wednesday night ahead of the last scheduled day of parliament for the year.
