Late last week, citing anonymous sources, the Australian Financial Review reported the federal government was considering delaying and possibly overhauling its plan to impose a higher tax on superannuation balances above $3 million.
The federal government has not confirmed such a pause, but sources reportedly indicated officials were re-examining the policy amid mounting criticism.
There’s still the opportunity for a compromise. Recent polling suggests more than half of Australians support the government’s proposed changes to the way large super balances are taxed. Yet, many groups remain vocally opposed to the way this policy has been put together, for various reasons.
