Ask a young person what’s grinding their gears, and it probably won’t be the lack of indexation on Labor’s proposed $3 million superannuation tax.
That might seem surprising. After all, the government’s plan to increase the tax on super balances above $3 million is expected to affect 0.5 per cent of taxpayers today but, according to AMP analysis, will affect the average Gen Z by the time they’re 59 thanks to inflation.
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