Tax rate increased for Australians with super balances above $3 million

The Albanese government has announced superannuation balances above $3 million will have their concessional rate doubled from 2025. Currently, earnings from superannuation in the accumulation phase are taxed at a concessional rate of up to 15 per cent. This will continue for all superannuation accounts with balances below $3 million From 2025-26, the concessional tax rate applied […]

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