Treasury has looked into changes to Labor’s controversial plan to double taxes on super accounts above $3m, an official has confirmed.
Labor’s planned law, which is yet to go back before parliament after failing several times, has drawn backlash for its plan to target unrealised capital gains.
This would force Australians to pay tax on the paper gains on assets, such as a farm or property, above the threshold.
Treasury’s deputy secretary of the revenue division Diane Brown fronted Senate Estimates on Thursday where she confirmed Prime Minister Anthony Albanese’s office had taken an interest in the legislation.
“There have been some conversations in the prime minister’s office,” Ms Brown said.
“It’s probably not unusual for that to occur from time to time, it remains unlegislated, and