On 28 February 2023, the Australian Government announced from 1 July 2025 a 30% concessional tax rate will be applied to future earnings for superannuation balances above $3 million. This measure is not yet law.
More information
- Media release - The Hon Dr Jim ChalmersExternal Link
- Press conference transcript - Prime Minister, Anthony AlbaneseExternal Link
- Budget paper no.2: Budget.gov.au (PDF, 2.4MB)This link will download a file