Tax office reveals 11 more Australians reporting super balances of more than $100 million
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2023-10-03
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#superannuation #tax #concessions #reform
According to the latest tax office figures, eleven more Australians joined the ranks of pension account holders with more than $ 100 million balances. Lock Points The number of Australians who reported 50 million dollars or more in Super has grown The number of Australians who reported 50 million dollars or more in Super, the federal government is expected to bring draft legislation to squeeze privileges for great super accounts today Today, federal government is expected bring draft legislation to squeeze concessions for great super accounts, and government will need support of greens that have not yet been logged in pass reforms The 2020-2021 data reveals that the number of Australians with over $ 50 million super balances increased to 135 people. The new figures are expected to publish a draft legislation on changes in the retirement tax concesses for rich Australians. Within scope the proposal, earnings of more than $ 3 million super balances will be taxed by 30 percent instead 15. When the next Federal elections entered into force, it will increase approximately 2 billion dollars per year with the start date of July 2025. When the Treasurer Jim Chalmers made an announcement earlier this year, he called it a "modest but important" change in his pension tax concesses. Analysis of new data from the Australian Tax Office shows that 17 Australians have more than $ 100 million in 2019-20. This rose to 28 people in 2020-21. In 2019-20, the number of people with a balance of more than $ 50 million rose to 107 by 78 and 2020-21. The figures that how many people have more than $ 3 million super balance since 2019 - threshold of who will be affected by the government's changes - has not been explained to public. However, when the treasurer took place in 2025, it is expected that the change is expected to be applied to approximately 80,000 people. Since July 2020, the average super balance was $ 170,000. GUARANTEED CHANGES The government shows that opposition will oppose opposition reforms, which will need Crossbench's support to pass legislation, but at this stage, government does not have greens. The Greens Senator Larissa Waters called on government to add retirement on paid parent permit financed by government in exchange for support of party. He argued that the change was called by other parliamentary members and would help reduce the retirement difference between men and women when they retired. It is estimated that policy will cost approximately $ 200 million a year, and greens said that cost can be met by a part of $ 2 billion collected by government's planned super changes. While the government supported the policy, Mr. Chalmers would not put a time line when he was going to implement it in September.
According to the latest tax office figures, eleven more Australians joined the ranks of pension account holders with more than $ 100 million balances. Lock Points The number of Australians who reported 50 million dollars or more in Super has grown The number of Australians who reported 50 million dollars or more in Super, the federal government is expected to bring draft legislation to squeeze privileges for great super accounts today Today, federal government is expected bring draft legislation to squeeze concessions for great super accounts, and government will need support of greens that have not yet been logged in pass reforms The 2020-2021 data reveals that the number of Australians with over $ 50 million super balances increased to 135 people. The new figures are expected to publish a draft legislation on changes in the retirement tax concesses for rich Australians. Within scope the proposal, earnings of more than $ 3 million super balances will be taxed by 30 percent instead 15. When the next Federal elections entered into force, it will increase approximately 2 billion dollars per year with the start date of July 2025. When the Treasurer Jim Chalmers made an announcement earlier this year, he called it a "modest but important" change in his pension tax concesses. Analysis of new data from the Australian Tax Office shows that 17 Australians have more than $ 100 million in 2019-20. This rose to 28 people in 2020-21. In 2019-20, the number of people with a balance of more than $ 50 million rose to 107 by 78 and 2020-21. The figures that how many people have more than $ 3 million super balance since 2019 - threshold of who will be affected by the government's changes - has not been explained to public. However, when the treasurer took place in 2025, it is expected that the change is expected to be applied to approximately 80,000 people. Since July 2020, the average super balance was $ 170,000. GUARANTEED CHANGES The government shows that opposition will oppose opposition reforms, which will need Crossbench's support to pass legislation, but at this stage, government does not have greens. The Greens Senator Larissa Waters called on government to add retirement on paid parent permit financed by government in exchange for support of party. He argued that the change was called by other parliamentary members and would help reduce the retirement difference between men and women when they retired. It is estimated that policy will cost approximately $ 200 million a year, and greens said that cost can be met by a part of $ 2 billion collected by government's planned super changes. While the government supported the policy, Mr. Chalmers would not put a time line when he was going to implement it in September.
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