The Greens will use their Senate balance of power to hold up proposed changes to the tax treatment of large superannuation accounts until the government puts superannuation on paid parental leave. The Greens support for that reform will be contingent on passage of legislation to put super on Paid Parental Leave (PPL). The Government announced in their 2023-24 Budget that from 2025‑26 the tax rate on earnings of superannuation balances above $3 million will be lifted from 15% to 30%. This is expected to affect around 80,000 people in 2025-26 and in the first full year of collection (2027-28) is expected to increase receipts by $2.

https://www.miragenews.com/pay-for-super-on-ppl-with-proposed-super-tax-1075940/

#miragenews