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Newcastle Herald

National

Super tax hikes confirmed by Labor: What it means for you

Jim Chalmers NDIS

The Albanese government has announced changes to super tax concessions that will target accounts with balances above $3 million.

The Albanese government will tax superannuation balances above $3 million at a higher rate as it looks for opportunities to claw back revenue.

The changes will apply to around 80,000 people with balances above $3 million in their accounts.

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