The Coalition sought to embarrass Stephen Jones as it tried to construct a broader narrative about broken promises
The political imperative is to use the government’s shift on “no intention” to increase tax on superannuation to construct a broader narrative about Labor and tax.the “modest” measure we have seen how the opposition intends to expand the playing field.
In question time the Coalition queried whether the super tax change could increase tax on unrealised capital gains such as a family farm held in a self-managed super fund that hasn’t been sold.Read more Away from the theatre sports of question time, a decision that was far more consequential for many family budgets was made., although there was a hint of relief that “further tightening” could mean just one more rate hike and not additional “increases” as signposted previously.
By the time the stage-three tax cuts, worth $254bn over 10 years, come into effect in July 2024, the government will be hoping the rate rises have worked their magic so it can deliver a benefit to millions of taxpayers earning more than $45,000 without adding to inflationary pressures.
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