[+] Super Tax to Shift Dial on Property Investment

A week after the soft launch of a superannuation reboot, Treasurer Jim Chalmers has moved to hose down speculation and confirm the doubling of taxation to 30 per cent for those with more than $3 million in super. 

Chalmers says the change would affect 80,000 people and deliver $2 billion a year when operational. 

He has, however, suggested that the tax cap rate would not come into effect until 2025, after the next federal election.