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The Treasurer’s done a U-turn and it’s shaking up Australia’s super system.
Back in May, Jim Chalmers announced plans to tax unrealised gains on super balances over $3 million.
Fast forward to October, and he’s walking it all back.
No tax on unrealised gains. The $3 million cap is now indexed.
But the damage to public trust? That’s another story.
In this episode, Matt McCabe breaks down:
💥 What’s changed and why it matters
💥 The new 30% and 40% tax tiers
💥 How younger Aussies were almost dragged into the “rich list”
💥 Why this backflip proves the super system is political football
💥 What smart investors and retirees should do next
🎧 Listen now to hear why this “win” for common sense might have come too late for everyday Australians.
Lionel O'Mally
https://www.purposeplanning.com.au/
https://bunniesmonies.com.au/
Matthew McCabe
https://newcastleadvisors.com.au/
https://newcastleadvisors.com.au/downsizers-australia/
https://newcastleadvisors.com.au/claim-strong/
Hosted on Acast. See acast.com/privacy for more information.
By Lionel O'Mally & Matthew McCabeThe Treasurer’s done a U-turn and it’s shaking up Australia’s super system.
Back in May, Jim Chalmers announced plans to tax unrealised gains on super balances over $3 million.
Fast forward to October, and he’s walking it all back.
No tax on unrealised gains. The $3 million cap is now indexed.
But the damage to public trust? That’s another story.
In this episode, Matt McCabe breaks down:
💥 What’s changed and why it matters
💥 The new 30% and 40% tax tiers
💥 How younger Aussies were almost dragged into the “rich list”
💥 Why this backflip proves the super system is political football
💥 What smart investors and retirees should do next
🎧 Listen now to hear why this “win” for common sense might have come too late for everyday Australians.
Lionel O'Mally
https://www.purposeplanning.com.au/
https://bunniesmonies.com.au/
Matthew McCabe
https://newcastleadvisors.com.au/
https://newcastleadvisors.com.au/downsizers-australia/
https://newcastleadvisors.com.au/claim-strong/
Hosted on Acast. See acast.com/privacy for more information.