Treasurer Scott Morrison concedes some 600,000 rich people will be affected by the government's superannuation changes announced in the budget, but says 3.3 million low-income earners will be better off.
The proposed low income superannuation offset will ensure people earning less than $37,000 won't pay tax on their super accounts, while at the top end changes include paying tax on super balances above $1.6 million in retirement.
"There are swings and roundabouts on this," Mr Morrison told Sydney's 2GB radio on Monday.
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