At the time of recording, the details of the proposal are still not known in full. However, enough was revealed at the time of the government’s original March 1 announcement and in subsequent elaboration, that we are able to sketch an outline of the new tax.

The proposal is that beginning with fiscal year 2025-26, every individual’s total superannuation balance aggregated across as many super fund interests as they may have will be tested against a $3 million threshold.

If the government perseveres with this, the proposal needs substantial modification to remove its more draconian features.

Read our research here: www.cis.org.au/publication/super…hould-be-shelved/

Check out the CIS at - www.cis.org.au/ Subscribe to CIS mailing list- www.cis.org.au/subscribe/ Support us with a tax-deductible donation at - www.cis.org.au/support/ Join the CIS as a member at - www.cis.org.au/join-cis/ Follow CIS on Socials Twitter - twitter.com/CISOZ Facebook - www.facebook.com/CentreIndependentStudies/ Linkedin - www.linkedin.com/company/the-cent…pendent-studies/