Pensioner tax will cause infighting in Australia's political scene

Political wrangling about retirees is tapering off after the federal government announced tax rate increases for people with super balances of more than three million dollars.

Superannuation Source: Getty / Getty Images

The Liberal Party pledged to abolish planned changes to the superannuation contribution tax if the Coalition party wins an election in the first half of 2025.

The current tax rate will double to 30 per cent for amounts above a three-million-dollar balance but will remain capped at 15 per cent below that threshold.

Listen to SBS Indonesian every Monday, Wednesday, Friday, and Sunday at 3 pm.

Follow us on Facebook and catch us up on podcasts.