Newsletter; Proposed 30% tax rate on earnings for super balances exceeding $3m stalled
The Australian Government has introduced legislation so that, from 1 July 2025, super balances exceeding $3 million would be subject to a 30% tax rate on earnings. The proposal includes a controversial tax on unrealised gains which has raised significant concerns as funds might face significant tax bills without liquidity to pay the bills.
The relevant bill was introduced into Parliament in November 2023 and is now likely to be delayed until after the Federal election (which must be held before 30 June). For more details, you can ready this article:
