Labor scraps key elements of controversial superannuation tax plan as Greens call move ‘gift to the super-rich’

The GuardianMonday, October 13, 2025 at 4:50:13 AM
Labor scraps key elements of controversial superannuation tax plan as Greens call move ‘gift to the super-rich’

Labor scraps key elements of controversial superannuation tax plan as Greens call move ‘gift to the super-rich’

In a significant policy reversal, Jim Chalmers has announced that the Labor government will scrap key elements of its controversial superannuation tax plan, which aimed to tax unrealised gains on super balances exceeding $3 million. This decision has drawn sharp criticism from the Greens, who label it a 'gift to the super-rich.' The move is crucial as it reflects the ongoing tensions in Australian politics regarding wealth distribution and taxation, raising questions about the government's commitment to addressing inequality.
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