
Proposed Super Tax Explained: 15% Tax on Balances Over $3 Million (Including Unrealised Gains)
Super Tax on Balances Over $3 Million: What You Need to Know A new super tax on balances over $3 million is in the spotlight — and it’s not just a concern for the ultra-wealthy. This proposal could change how we manage and protect long-term investments. What’s Happening? The Federal Government has introduced draft legislation to apply a 15% tax on super earnings over $3 million. What makes this unusual is that it includes unrealised gains – growth on assets you haven’t sold yet. If passed, the change would take effect from 1 July 2025, with the first tax assessments happening