Treasurer dismisses critics of Labor's plan for tax on unrealised capital gains
Corporate leaders are lashing out at the government's plan to tax unrealised capital gains, but Jim Chalmers is dismissive.
Treasurer Jim Chalmers has hit back at critics of the Albanese government’s plan for a tax on unrealised capital gains amid a furore from corporate Australia.
The proposal to slug an additional 15% tax on unrealised capital gains on superannuation balances in excess of $3 million has seen a show of force from senior business figures in the past few weeks, including Karl Morris, a former chair of superannuation fund QSuper.
Morris told The Australian on the weekend that the plan was “ill-conceived” and would make it hard for retirees to plan. Other business leaders criticising the move include CSL chairman Brian McNamee, who has labelled it a “trojan horse”, and Sydney Swans chairman Andrew Pridham, who warned it increases “sovereign risk”.
“Obviously, I don’t agree with them,” Chalmers responded when asked about these criticisms by Capital Brief at a doorstop at Channel 7’s Eveleigh studios in Sydney following Sunday's leaders' debate.
