Labor has been urged by investor groups to definitively rule out extending its taxation of unrealised gains on high-value superannuation funds to other investments outside of super including real estate, family trusts and farms.
The Albanese government in 2023 announced a surprise doubling of the 15 per cent tax on the annual profits from superannuation balances above $3 million, including unrealised gains on assets held inside super such as shares and property, even if they had not been sold.
Labor did not seek a mandate on the super tax rise at the 2022 election. It has faced resistance in the Senate on the measure, and Treasurer Jim Chalmers has declared it “unfinished business” in his quest to raise an estimated $2.3 billion a year from the proposed tax hike.
In this election campaign, Prime Minister Anthony Albanese ruled out tinkering with negative gearing on investment properties, after Chalmers last year received Treasury analysis on property tax breaks.
A coalition of self-funded retiree, small business and farmer groups is demanding Labor and the Coalition unequivocally rule out any move to tax unrealised investment gains in any part of the tax system.
Source: https://www.afr.com/policy/tax-and-super/investor-groups-urge-labor-not-to-extend-tax-on-unrealised-gains-20250415-p5lrwn