The Australian Contributing Economics Editor Judith Sloan says Labor legislating taxes on $3 million plus superannuation balances is “retrospective” as people accumulated those numbers “completely legitimately”.
“The thing is, that $3 million sounds like a lot of money, but bear in mind – people have accumulated those balances completely legitimately using the rules of the day,” Ms Sloan told Sky News host Peta Credlin.
“To change it now is retrospective – perhaps they can get away with it but let’s be absolutely clear about it.”
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