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Senate crossbench urged to hold firm on $3m tax cap bill - Financial Newswire

Summary by Financial Newswire

Major accounting group, Chartered Accountants ANZ, is urging that the legislation delivering the Government’s $3 million superannuation tax cap and a tax on unrealised capital gains does not surface again in the Senate before Parliament is prorogued. CA-ANZ chief executive, Ainslie van Onselen has welcomed the fact that the legislation did not fit into the Senate schedule last week and urged the Senate cross-bench to ensure it did not progress. …

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The Accountant

CA ANZ urges review of superannuation bill

Chartered Accountants Australia and New Zealand (CA ANZ) has called for an urgent review of a bill that could introduce tax unrealised gains in superannuation assets exceeding A$3m ($1.91m) in Australia. The Treasury Laws Amendment (Better Targeted Superannuation Concessions) Bill 2023, which was set to be debated on 13 February 2025, has been delayed, potentially until after the upcoming election. CA ANZ has been opposed to this policy since…

7 days ago

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