Greens promise to waive through sensible tax reforms

The Australian Greens have promised to waive through various tax reforms impacting superannuation and property investment, in a bid to boost budget revenue and improve equity.

After months of pushing for amendments, the Greens have agreed to pass the extra 15% tax on earnings from super balances above $3 million without changes (i.e., Division 296).

Following earlier negotiations, Labor softened the original proposal. The $3 million threshold will now be indexed to inflation. The tax will only apply to realised gains, not unrealised gains.