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Robert Gottiebsen at The Australian argues that the Coalition risks inciting deep animosity among a core part of its traditional supporter base, including farmers and shareholders.
This cohort is being targeted by Labor’s proposed 30% tax on the unrealised capital gains of superannuation balances of more than $3 million.
Gottliebsen believes that Labor would most likely agree to restrict its super changes to doubling the tax rate on super balances of more than $3 million if the Coalition backed this. However, the Coalition is not willing to negotiate.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.