Politics

Tax cut could leave 1.3m paying higher rate on super than income

The surprise tax cut in the budget will make the lowest income tax rate 14 per cent from 2027, but the concessional rate on super will stay at 15 per cent.

Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login About 1.3 million low-paid workers will pay a higher rate of concessional tax on their superannuation than they will on their income under the Albanese government’s new tax cuts, prompting calls to extend the compensation scheme designed to avoid such a disparity.

Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login Introducing your Newsfeed Follow the topics, people and companies that matter to you. Latest In Federal Fetching latest articles Most Viewed In Politics BOSS Financial Review.