Taxes on unrealised gains is a very dangerous precedent.
It would be worth your while letting your local MPs and senators know your views on this proposal
https://www.afr.com/policy/tax-and-super/savers-with-3m-plus-super-could-pay-double-tax-on-earnings-experts-20240421-p5flf8
You'd think with a wealthy boomer population this would not go down well.
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I think they’re relying on the fact that majority of people (at the swing voting margin) don’t have more than $3m so won’t oppose.
Likely
They wouldn't be thinking too far ahead as the next round of printing could send most properties above that value.
