Australian Prime Minister Anthony Albanese has refuted the idea that the Labor government broke an election promise after announcing changes to the superannuation concession tax on Feb. 28.
This comes after Albanese said during the 2022 federal election campaign that the Labor party would not make any major change to the super tax break if it were elected.
In an interview with ABC radio on March 1, the prime minister said he did not break the promise as the “modest” change would occur after the next election.
“It very clearly takes effect after the next election. What we are doing here is a very modest change to give a less generous tax break for those who have superannuation balances of above $3 million (US$2.01 million),” Albanese said….