Doubling of super tax for workers on $250k

High income earners will pay double the tax on their superannuation contributions and tighter controls will be introduced on top-ups.

Australians earning more than $250,000 a year are in line to have the tax on superannuation contributions doubled.

The move to increase tax on contributions for high income earners will be announced in the federal budget on Tuesday night, The Australian reports.

Other measures include tightening the cap on lump sum payments and closing loop holes in the transition to retirement rules.