Labor's Superannuation Tax Bill
Greens Economic Justice spokesperson Nick McKim responded to the government's reworked superannuation tax bill.
"We will take a look at the detail here, but we’re concerned that the government has further weakened what should be a tax to ensure the super wealthy top 0.5% pay their fair share of tax."
McKim expressed concern that Labor is not taking sufficient action to tax big corporations and billionaires fairly.
- Labor has stripped out the tax on unrealised gains.
- They have indexed the $3 million threshold, a move that will cost the budget billions.
The Greens have previously called for tax relief on super contributions for low-income people.
"It’s clear Labor doesn’t have the guts to tax big corporations and billionaires fairly."
Author's summary: Labor's revised superannuation tax bill favors the wealthy.
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