Michelle Bowes

1 week ago | afr.com | Michelle Bowes

May 30, 2025 – 7.22pm or Subscribe to save articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? The Tax Office has put the nation’s wealthiest families on notice that it is watching closely for any restructuring of their assets or specious strategies to avoid Labor’s proposed tax on superannuation balances above $3 million.

1 week ago | afr.com | Michelle Bowes |Joanna Mather

May 30, 2025 – 5.21pm or Subscribe to save articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? At a press conference in early 2023, Prime Minister Anthony Albanese and Treasurer Jim Chalmers announced their plans to impose a higher tax rate on the earnings of superannuation balances above $3 million. The measure would help pay down the $1 trillion debt inherited from the previous government, Albanese said.

1 week ago | afr.com | Michelle Bowes

May 29, 2025 – 5.40pm or Subscribe to save articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? Auditors are bracing for a wave of dodgy asset valuations under Labor’s superannuation tax, warning that self-managed superannuation funds are already trying to manipulate what they own to avoid or limit their exposure to the new impost.

1 week ago | afr.com | Michelle Bowes

May 29, 2025 – 5.00am or Subscribe to save articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? Like many Baby Boomers, Peter and Lesley Boyle had trodden the well-worn path of investing in residential property during their wealth accumulation years.

2 weeks ago | afr.com | Michelle Bowes |Andrew Hobbs

Labor’s plan for a new tax on superannuation accounts with high balances has attracted loud criticism for upending the fundamentals of the tax system. Everyone, from venture capitalists to farmers, have identified flaws that, at the very least, reveal what might be unintended consequences of a tax that targets both unrealised gains and is not indexed, meaning it has all the weaknesses of the bracket creep-plagued income tax system. Loading...