Tax on Superannuation Balance

  • 30% tax on super earnings on balances above $3 million

    Treasury has released draft legislation for consultation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances above $3m from 15% to 30% from 1 July 2025. This is the final step before the legislation is introduced into Parliament. From a planning perspective, for those with superannuation balances close to or above $3m, it will…

    Superannuation