AFR readers support super cap but say it should be indexed

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AFR readers support super cap but say it should be indexed
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The majority of The Australian Financial Review readers support the Albanese government’s plans to increase the tax on superannuation earnings for balances above $3 million.

at 30 per cent, up from 15 per cent, in a move it said would affect just 0.5 per cent of super fund members.The regular survey of 673readers found that 61 per cent supported the government policy, 35 per cent did not and 4 per cent were unsure.

More than 60 per cent of readers said they did not support Opposition Leader Peter Dutton’s pledge to repeal the increased super tax rate for balances over $3 million if elected in 2025. The Grattan Institute estimated that within 30 years about one-in-10 workers – those earning above $142,000 a year on average throughout their careers – will begin to retire with nominal super balances of around $3 million.that gas be allowed as a transition fuel in moving the electricity grid from coal to renewables.

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