Australia to tax superannuation over $3M at 30%, over $10M at 40%, starting July 2026.

Australia is revising its superannuation tax rules, keeping a 30% rate for balances over $3 million and adding a 40% rate for those exceeding $10 million, with thresholds not indexed to inflation. Unrealised capital gains will no longer be taxed, and changes take effect July 2026. The low-income super offset will rise to $810, with the income threshold increasing to $45,000 from 2027. Treasurer Jim Chalmers said the final plan balances fairness and feedback after two years of debate, with legislation advancing through parliament despite opposition.