Labor's Superannuation Tax Bill
The Australian Greens have expressed concern over the government's reworked superannuation tax bill.
"We will take a look at the detail here, but we’re concerned that the government has further weakened what should be a tax to ensure the super wealthy top 0.5% pay their fair share of tax."
Nick McKim, Greens Economic Justice spokesperson, criticized the government for not having the courage to tax big corporations and billionaires fairly.
- Labor has stripped out the tax on unrealised gains.
- The $3 million threshold has been indexed, a move that will cost the budget billions and benefit the super-rich.
The Greens have previously called for tax relief on super contributions for low-income people and will review the changes to low-income earners' superannuation.
Author's summary: Greens criticize Labor's superannuation tax bill.