Treasurer Jim Chalmers has defended the government's planned taxes on wealthy superannuation balances, describing them as modest.
The government doubled the tax rate on super accounts with more than $3 million from 15 per cent to 30 per cent, with the changes to come into effect from mid-2025.
Dr Chalmers said the measures, which will impact about 80,000 superannuation accounts, are needed to deal with budget pressures.
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