‘Disastrous precedent’: Warning for Labor over its super tax proposal
Judo Bank chief economist Warren Hogan has warned that if Labor doesn’t “isolate” its new tax to just super then it would be a “disastrous precedent”.
“The problem with unrealised gains for the great majority of Australians is they don’t have money just sitting on the sidelines ready to pay tax to the ATO if their assets go up in value,” he told Sky News Australia.
“To do it more generally is, I think, going to have a massive backlash.”
Mr Hogan advised the Albanese government to look at “stopping the growth in spending” and “leave the taxes alone” for the moment.
