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AAP
AAP
Politics
Poppy Johnston

Labor unveils super tax tweaks on big balances

Labor Jim Chalmers Greens Larissa Waters
Treasurer Jim Chalmers says tax concessions will be less generous for those with big super balances. (Lukas Coch/AAP PHOTOS)

The number of Australians with super balances in the hundreds of millions has been expanding quickly as the federal government prepares to tighten tax breaks for wealthy retirees. 

The Labor government committed to halving tax breaks for those with super balances of $3 million or more earlier in the year in a bid to claw back some revenue and make the system fairer. 

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