80,000 rich Aussies will be hit by Labor's super tax. The Treasury secretary is one of them.
Steven Kennedy stayed silent on criticism of Labor’s plan to cut tax concessions on super balances above $3 million. But he revealed he will be personally affected.
Treasury Secretary Steven Kennedy has revealed he will be personally affected by the federal government’s contentious plan to reduce superannuation tax concessions for the wealthy.
Delivering the 2025 Economic Address at an Australian Business Economists event in Sydney on Wednesday afternoon, Kennedy responded to a question from Capital Brief about criticism of the changes by noting that “all reform is hard”.
“A very small number of people will be subject to this tax, including myself,” Kennedy said, advising a conflict of interest.
The planned changes to superannuation concessions have sparked frenzied media coverage and fierce debate among economists in recent weeks.
