As Prime Minister Malcolm Turnbull battles with his backbench over planned superannuation tax concession changes, Labor has offered an alternative to keep the government's $500,000 lifetime cap on non-concessional contributions in place.
Bill Shorten says rather than backdating the change to 2007, the change should start from budget night while making up this revenue hit by changing the tax concessions on contributions.
In a speech to the National Press Club, the opposition leader proposed the income threshold at which point the tax on a person's super contributions rises from 15 per cent to 30 per cent should fall from $250,000 to $200,000, generating $238 million over four years.
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