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The Guardian - AU
The Guardian - AU
National
Paul Karp

Super changes could affect 10% of people retiring in 30 years, Labor reveals

Labor Crossbench David Pocock Newspoll Jacqui Lambie Tony Burke Coalition Tax Cuts David Littleproud Greens
Two retirees sitting on a bench
The Albanese government has delayed the start of less generous super concessions on balances of $3m or more until July 2025. Photograph: Bloomberg/Getty Images

One in 10 people retiring in 30 years will have a super balance above $3m and could eventually be impacted by Labor’s proposal for less generous tax concessions, the government has revealed.

The finance minister, Katy Gallagher, revealed the long-term treasury estimate in Senate question time, prompting outrage from the Coalition that the government has misrepresented the impact of the measure.

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