How Labor’s new super tax works

Labor is poised to move forward with its plan to increase the tax on superannuation balances over $3 million. Critics are calling the idea unfair and questioning why Labor’s super tax will apply to unrealised gains, rather than just money made. But with Labor’s super majority in parliament – and support from the Greens in the senate – their opponents can only complain. Today, national correspondent for The Saturday Paper , Mike Seccombe, on Labor’s superannuation plan, and what it tells us about the government’s economic priorities in its second term. If you enjoy 7am , the best way you can support us is by making a contribution at 7ampodcast.com.au/support . Socials: Stay in touch with us on Instagram Guest: National correspondent for The Saturday Paper , Mike Seccombe. Photo: AAP Image/Russell Freeman See omnystudio.com/listener for privacy information.