Tag: retirement savings calculator
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Labor’s Superannuation Tax Plan Sparks Economic Concerns
Labor’s proposed superannuation tax plan, targeting accounts with balances exceeding $3 million, is causing a stir among economists and experts. While initially perceived as a measure aimed at the wealthy, the plan’s implications could extend far beyond that demographic. The extra 15 per cent tax rate on superannuation earnings, slated to take effect from 1…
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Labor’s Super Tax Plan Gains Expert Support for System Reform
Experts have expressed support for Labor’s super tax plan, emphasizing the importance of needed reforms in the superannuation system. The proposal aims to trim tax breaks for the wealthiest 0.5% of savers, affecting about 80,000 Australians with super balances over $3 million. While the plan has faced intense criticism, leading experts argue that it is…