SYDNEY : Australia's centre-left government said on Thursday it would push ahead with plans to change superannuation rules, including restricting early access to funds until retirement and limiting tax breaks for high-earners.The Labor government earlier this week launched a consultation on reforming supe
SYDNEY : Australia's centre-left government said on Thursday it would push ahead with plans to change superannuation rules, including restricting early access to funds until retirement and limiting tax breaks for high-earners.
"We are not trying to revolutionise the system, but there are questions to be asked," Assistant Treasurer Stephen Jones said in a speech to the Self Managed Super Fund Association. Federal Treasurer Jim Chalmers estimates tax breaks on superannuation will cost the budget more than pension by 2050.
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