Superannuation Tax Plan Scrapped
The federal government has scrapped plans to tax unrealised gains of large superannuation accounts, a move labelled a "disaster" for the Australian tech and startup sectors.
Treasurer Jim Chalmers announced the backflip on Labor's planned reforms, which included a 15% tax on earnings for superannuation accounts over $3 million, including unrealised gains.
The plan had been labelled a "disaster" for the Australian tech and startup sectors.
The startup sector has expressed relief at the decision, which follows widespread backlash against the proposed reforms.
Author's summary: Govt scraps superannuation tax plan.
More News
- Government completes assessment of Sydney-Newcastle high-speed rail business case
- Kenya's Jubba Airways replaces F50s with B737s
- Executive Club waiting list open for 2026/27
- What you might have missed: Australia readies for unpredictable MotoGP weekend
- WFX-FIT test open houses
- Market Harborough BS and Principality BS cut rates – round-up
- Romania’s industrial output plunges 3.3% y/y to new record low in August
- Pokémon Legends: Z-A Just Changed the Game: Real-Time Battles Are Here, and It's Wild
- Seth Rollins Injury May Have Led To Shocking Betrayal on WWE Raw
- Andrew Scott reunites with Girls creator for new comedy