Get all your news in one place.
100's of premium titles.
One app.
Start reading
ABC News
ABC News
Business
political reporter Jake Evans

Superannuation taxation increase to accounts over $3m not a broken promise, prime minister says

The treasurer says the super changes will make the budget more "responsible".

Prime Minister Anthony Albanese says he did not break his election promise not to make changes to superannuation by deciding to increase the tax rate on superannuation accounts over $3 million.

The federal government plans to double the tax rate on the nation's largest super accounts from 15 per cent to 30 per cent, which it expects to affect about 80,000 people.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.