The prime minister says he had a responsibility to act on making changes to taxes on superannuation, following departmental advice on multimillion-dollar balances.
While there had been broad community support for doubling the tax rate for superannuation balances with more than $3 million, Anthony Albanese indicated other tax changes were not on the horizon.
The tax rate for super balances of more than $3 million will rise from 15 per cent to 30 per cent from July 2025, after the next federal election.
