Chalmers says Labor will push ahead with delayed super tax plan despite Spender urging rethink

Treasurer says changes are ‘relatively modest’ but are important in the context of the budget

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Jim Chalmers says Labor will push ahead with delayed changes to tax treatment for superannuation accounts worth more than $3m, stressing the moves are modest and will apply to politicians and public servants on defined benefit schemes.

Coalition MPs – including newly re-elected Victorian Liberal Tim Wilson – want the opposition to go after Labor over plans to legislate the new super tax, which would mean earnings on retirement balances worth more than $3m are taxed at 30%, rather than the current 15% rate.

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