The treasurer has responded to critics of a plan to change tax concessions on large super balances. Photo: Steven Saphore/AAP PHOTOS

Plans to increase taxes on large superannuation balances will be refined after the federal government's initial proposal was criticised, especially by high net worth individuals.

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Long-touted reforms to double the tax rate to 30 per cent on super accounts above $3 million will remain in place, but a second threshold will be created for balances above $10 million, which will be taxed at 40 per cent.

The thresholds will also be indexed, following concern

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