Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 27-Aug-24

Former prime minister Paul Keating has criticised the federal government in regard to its proposal to increase the tax on high-value superannuation accounts. Keating is unhappy about the part of the proposal that involves taxing unrealised gains, while he says if there has to be a threshold, it should be at least $5 million and should be indexed; the government is talking about an account balance threshold of $3 million and does not plan to index it at this stage. Crossbench MPs have echoed Keating’s concerns, but Treasurer Jim Chalmers has rejected the criticisms of Keating and the crossbench MPs, contending his proposals are modest and that he is not open to amending them.

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AUSTRALIA. DEPT OF THE TREASURY