By Glenn Dewhurst
The federal government has officially declared war on hard-working Australians.
Under the dishonest banner of “fairness,” Labor is pushing through a superannuation tax that punishes the very people who’ve done everything right—worked hard, saved diligently, invested wisely, and played by the rules. But as always, the elite have carved themselves out of the mess they created.
They call it a “modest reform.” Don’t be fooled. If your superannuation balance exceeds $3 million, you’ll now be hit with an extra 15% tax—on top of the 15% you already pay. That’s a 30% grab on your retirement savings. But here’s the sting—it’s not on money you’ve spent or withdrawn. It’s on unrealised gains. Paper profits that don’t even exist. You’re being taxed on imaginary income.
That’s not taxation. That’s government-sanctioned theft.
And before you say, “Well, $3 million is a lot,” think again. This isn’t just about the rich. The $3 million threshold is a trap—it’s not indexed to inflation. That means anyone with a good job, a small business, or a couple of investment properties will eventually hit that mark. Young Australians working hard today will be the ones walking into this tax tomorrow. It’s not accidental. It’s designed that way.
This is the thin end of the wedge. Today they come for the so-called “wealthy.” Tomorrow? Your home equity, your shares, your family trust. Once a government gets a taste for taxing fake income, they’ll never stop.
But the real insult? The politicians and judges pushing these rules are exempt. Yes, the same people who passed this law—politicians, judges, senior bureaucrats—have carved out a golden loophole for themselves. They’re protected by lucrative, taxpayer-funded defined benefit schemes that will not be touched. They’ve written the laws to hit you—and shield themselves.
One set of rules for them. Another for the rest of us.
They claim it’s about sustainability. It’s not. It’s about control. It’s about weakening the financial independence of everyday Australians while the elite hoard power and wealth. They want a compliant population—not a prosperous one.
Labor says it only affects 80,000 people. But they deliberately refused to index the threshold, because they want that number to grow. If you’re under 40 and trying to build a future, you will be next. They know it. They’re counting on it.
This is a money grab. And it’s just the beginning.
Remember during the last election when Labor fear-mongered that “Peter Dutton will come for your super”? Well, guess what—they came for it. They lied. They raided your future. And they exempted themselves while doing it.
This isn’t just hypocrisy. This is systemic abuse of power.
If the people making the rules are never made to suffer by them, we don’t live in a democracy—we live in a stitched-up oligarchy. If elections just swap out which faction of the elite rules over you, what choice do you really have?
And the worst part? The silence. Where is the outrage? Where is the fight?
Australians must wake up. This isn’t “just a tax.” This is the beginning of the end of financial freedom. The ladder of opportunity is being pulled up—and you’re expected to cheer as they do it.
Make noise. Speak up. Push back. Or watch your future disappear.
