
Transcript – Money News with Deb Knight
DEB KNIGHT:
There’s a lot of focus at the moment on the government’s plan to up the tax on the small number of super rich Australians with super accounts over $3 million. The legislation has already been before parliament, but a change in the makeup of the Senate after the election means that Anthony Albanese is likely to get an easier time getting this super tax change through with the help of the Greens. And with that in mind, some families are already taking steps to change their tax makeup. The Tax Office is watching though, and says it will be taking a close look at any restructuring of assets, updating its guidance on private wealth to include the potential superannuation tax.