Assistant Treasurer justifies Labor’s plan to tax superannuation balances above $3m
Assistant Treasurer Daniel Mulino further explains the government’s plan to tax superannuation balances above a certain threshold.
This comes as the Labor government has planned to impose a 30 per cent tax on super funds above $3 million.
“(Superannuation) is about providing people with certainty in retirement,” Mr Mulino told Sky News Australia.
“When accounts get above a certain threshold, there comes a point where it’s not about those core rationales for the system anymore.”
