SMSFA Welcomes Shock Super Tax Announcement
The government has announced it is going back to the drawing board on the proposed $3 million super tax, according to the head of the SMSFA.
Peter Burgess, CEO of the SMSF Association, stated that today's announcement from Treasurer Jim Chalmers significantly watering down the $3 million super tax legislation means "essentially back to the drawing board and starting again".
"This is really the only way they could address the taxation on unrealised capital gains,"
said Burgess.
Author's summary: Government reconsiders $3 million super tax.
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