Senate Breakthrough Bolsters Albo’s Super Tax

‘They can afford it’, Labor says of super tax, as Rich Listers take stock

Some of Australia’s richest people including Gina Rinehart and Jack Cowin have warned the proposed tax on super balances above $3 million will stymie investment.

Senate breakthrough bolsters Albo’s super tax

Labor’s growing numbers in the Senate could all but guarantee the passage of its plan to hit super balances over $3m with a 30 per cent tax.

Albo’s huge Senate breakthrough

More than three weeks after the federal election, Labor is still gaining ground in the Senate.

Personal contributions lift super flows - Financial Newswire

The increase in the superannuation guarantee to 11.5% from July last year has underpinned a modest but healthy increase in total contributions but failed to obscure a 0.8% decrease in assets for the March quarter to $4.1 trillion. At the same time data collected by the Australian Prudential Regulation Authority (APRA) revealed a significant level of growth in personal contributions. The March quarter data, released by APRA has pointed to a super…