‘Stubborn’ Labor offers no compromises on $3m super tax

Holidaymakers on the NSW south coast in the shadow of a dangerous bushfire have received a reprieve overnight after a cool southerly change moved across the fire ground.

The fire is still more than 5000ha in size and continues to burn near homes in the Cuttagee, Barragga Bay, Murrah, Bunga and Goalen Head areas.Evacuation centres in Bega and Narooma remain in place. For Wednesday, three total fire bans are in effect in the Greater Hunter and further inland in the Northern Slopes and North West areas where the fire danger ratings range from high to extreme.The Albanese government has dug in on its controversial plan to tax unrealised gains on earnings from superannuation balances over $3 million, with industry experts and the opposition slamming Labor for failing to take on stakeholder feedback.

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‘Stubborn’ Labor offers no compromises on $3m super taxIndustry players also warned the tax will potentially hit more people than suggested, as draft laws released on Tuesday confirmed it would not be indexed.
Source: FinancialReview - 🏆 2. / 90 Read more »

Labor calls on Greens to back $3m superannuation taxLabor will today release draft legislation to double the tax on earnings from large superannuation balances; Victorian Treasurer Tim Pallas announces plans to expand vacant land tax. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »