Morrison to target super tax breaks in federal budget

THE Coalition will cut back superannuation tax breaks in the coming budget in an effort to ensure super is used to fund retirement not to create wealth.

Treasurer Scott Morrison made the comment in a speech to business leaders yesterday after the government had already ruled out changes to the GST and limits on negative gearing.

He did not give specific details but Mr Morrison said the Turnbull government would release its election-year superannuation policy on or before the May budget.

The policy would likely include measures to limit the accumulation of superannuation savings during working life, while Labor's policy announced about a year ago targets the low tax rate charged on high-income earners' super savings.

As the government looks to cement an early election, Mr Morrison also would not say whether the budget would be brought forward a week to May 3, to allow supply bills to pass before Malcolm Turnbull announces a poll date.

Topics:  budget federal politics scott morrison superannuation

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