The SMSF Association has confirmed it likely doesn t have enough senators on its side to block the proposed $3 million superannuation tax, but Teal independents intend to force an amendment ensuring it is indexed.
The SMSF Association has confirmed it likely doesn t have enough senators on its side to block the proposed $3 million superannuation tax, but Teal independents intend to force an amendment ensuring it is indexed.
Two leading associations have called for the government’s plan for a tax on super balances above $3 million to be scrapped, as the legislation is tabled in Parliament.
The government s proposed tax on superannuation balances exceeding $3 million could adversely impact up to 50,000 self-managed super fund members (SMSF), including posing liquidity challenges.