How Labor’s new super tax works

Labor is poised to move forward with its plan to increase the tax on superannuation balances over $3 million.

Critics are calling the idea unfair and questioning why Labor’s super tax will apply to unrealised gains, rather than just money made.

But with Labor’s super majority in parliament – and support from the Greens in the senate – their opponents can only complain.

Today, national correspondent for The Saturday Paper, Mike Seccombe, on Labor’s superannuation plan, and what it tells us about the government’s economic priorities in its second term. 

 

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Guest: National correspondent for The Saturday Paper, Mike Seccombe.

Photo: AAP Image/Russell Freeman

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