Super tax critics take victory lap on Jim Chalmers' unrealised gains reversal
Fund manager Geoff Wilson, who has led a campaign against the taxation of unrealised gains on high-value super accounts, told Capital Brief the changes are "very pleasing".
Treasurer Jim Chalmers’ backdown on taxing unrealised capital gains for high-value superannuation accounts has received the stamp of approval from some of his most vocal critics.
Among them is high-profile fund manager Geoff Wilson, who has been among those leading the charge against the changes.
On Monday, Chalmers unveiled a suite of changes to his more than two-year-old super tax plan, which would have imposed higher taxes on super balances of $3 million and above, including on unrealised gains.
He has now indexed the threshold and scrapped the unrealised gains component — two of the most contentious elements of the package — while also increasing the low-income superannuation tax offset.
