MEDIA STATEMENT
25 August 2026
Labor told Australians their superannuation would be protected from its latest tax changes.
Now we are discovering another tax landmine buried in the fine print.
The Financial Services Council is warning that Labor’s proposed capital gains tax changes could expose at least $372 billion of Australians’ superannuation assets to higher tax, potentially costing Australians an additional $55 million every year.
This comes down to a very simple question.
If two Australians have their super invested in the same asset and earn exactly the same return, should one pay more tax simply because their super fund happens to hold that investment through a managed fund?
I say no.
Labor’s draft laws could produce exactly that result.
The FSC has modelled an identical investment producing a tax bill of $105 when held directly, compared with $122 when held through a Managed Investment Trust or Attribution Managed Investment Trust.
That is a 16 per cent higher tax bill for the same investment and the same pre-tax return.
For affected gains, the FSC estimates Australians could face up to $500 more tax for every $10,000 in capital gains.
Most Australians have absolutely no say over whether their super fund holds an investment directly or through a pooled managed fund.
Yet under Labor’s proposed rules, that technical distinction could leave them with less money in retirement.
What makes this worse is that Labor specifically promised superannuation funds, including self-managed super funds, would be excluded from these reforms.
If that was genuinely the Government’s intention, then there should be no argument.
Fix the legislation.
Australians should receive the same tax treatment for the same investment and the same return, regardless of the structure their super fund uses to hold it.
Australians should not need accountants and lawyers to work out whether Labor’s latest tax changes are going to reach into their retirement savings.
This is becoming a pattern from a Government that cannot control its spending and keeps looking for new places to tax. It’s the same old story. When Labor runs out of money, they come after yours.
They announce a new tax, promise Australians they will be protected, and then the fine print tells a different story.
Labor promised super was safe.
Australians deserve more than another broken promise.
The Coalition will continue to oppose Labor’s toxic taxes and fight for Australians who work hard, save and invest for their future. Only the Coalition has a Plan to fix our economy and protect our way of life.
[ENDS]
Media Contact: Brendan West – 0402 556 646 – Brendan.west@aph.gov.au