Chaney welcomes changes to proposed superannuation tax reforms

Independent Federal Member for Curtin Kate Chaney has welcomed the Treasurer Jim Chalmers’ announcement today that the Government will amend the superannuation tax reforms, responding to her concerns about taxing unrealised gains and indexation.

“I have been demanding changes to the Government’s super tax amendment since it was announced two years ago. Specifically, I’ve been pushing for unrealised gains not to be taxed, and for the $3 million threshold to be indexed. I welcome the Treasurer’s proposed revisions that include these changes.

I did not support the Government’s previous approach as it was not consistent with principles of good tax policy. This was reflected in the discussions I had with constituents and tax experts.

Governments should be able to change their mind and fix legislation when they get it wrong. This is what has happened, and I’m pleased the Treasurer has found a better way and is open to further consultation.
I commend the Government for listening to concerns from the crossbench, stakeholders and the community to improve this legislation.

I will scrutinise the new legislation carefully to understand the full impact of the changes proposed today. Australians deserve a superannuation framework that helps us achieve a fair and dignified retirement.
I hope these changes signify a willingness from this Government to consider broader tax reforms, with a consultative approach that listens to a range of views and responds to feedback.”

[ENDS]
Media enquiries:
Cade Smith | Media and Communications Adviser
[email protected] | 0408 997 003