Chalmers' Law won't come into power until 1 July 2025, after latest possible May 2025 election. That is the plan.Lol, Chalmers is more focussed on whacking the super rich superannuation perks to balance the bottom line........
Some of the longs here might be getting a pineapple......
However , Chalmers was spot on blocking the chinese raid on Northern minerals !!
There is a lot of water to flow under the bridge between now and then. 2+ years in politics is an awful long time.
The non indexed 3 million cap by July 2025, after 2 years of Chalmers' rule, could well be 2 million in todays money.
The non indexing is the real stinger and highly likely the death knell of the superannuation system, if it doesn't get addressed.
I wonder what the 3 million cap will be worth in 20 years by the time the current 48 year old people wish to retire.
Labor's general feeling is that superannuation savings should not exceed 7 x average annual income (~$500,000) and anything over that should be handed back to pay for Labor's new initiatives.
Negative gearing, Capital gains tax on the home, franking credits etc, etc next.
Labor is good at this sort of shit.
Morrison had to go, pity the liberals didn't see that.
However people don't know yet, what is going to hit them with Chalmers controlling the purse strings.