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Richest super balances to be taxed at higher rates after Greens agree to back Labor plan
(www.theguardian.com)
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this post was submitted on 10 Mar 2026
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Well $3M sounds like a lot now, but I hope they index it, because the way inflation and money printing is going, that will be worth about $3.50 in a decade or two, so everyone will be caught by it.
Don’t buy into the fear-mongering being pushed.
For a comfortable retirement in 2026, the amount required is ~$800K (this is already on the high end).
Assuming a consistent worst-case inflation rate of 4% every year (double the RBA target), it would take 25 years to hit $2m - let alone the $3m+ in question here.
There is a very small, very wealthy cohort with $3m+ in superannuation savings - and you, statistically speaking, aren’t part of it.
Fuck ‘em - they need to be taxed more.
I get and support the gist of this.
In terms of dollar values, I worry about 2 things:
Maybe if it was set as the equivalent of $3M in gold as at 12 March 2026 I'd be OK....
PS:800k might be the comfortable today, but there have been multiple times the share market etc has halved, or even lost 90% of it's value. Unless you have 2x to 10x 800k, and have a living portion in liquid assets, you are not immune.
As an alternate POV, if somebody had $5M in super today, would we be OK with no extra tax if the markets crashed 50% and that meant their super was only worth $2.5M now? And the $3M fatcat who only held shares in his dodgy cousin's company that tanked, some NFTs, and cryptocurrency was now worth $100k?