Why is the government reining in super tax breaks?

The Albanese government has declared that they will increase the earnings tax rate on super accounts with a balance of over $3 million, much to the chagrin of the wealthy. While this has made prime fodder for comedians to mock the rich, there’s a more serious issue at play here. Super tax breaks need reform, and the budget deficits need to be repaired. Watch Economic Policy Program Director Brendan Coates, Senior Associate Joey Moloney, and host Kat Clay, discuss whether the government should be cutting tax breaks on multi-million dollar super balances. Read the Money in Retirement report https://grattan.edu.au/report/money-in-retirement/