Treasurer Jim Chalmers has announced changes to the federal government’s proposed taxes on superannuation .

Chalmers revealed on Monday that the Labor cabinet had agreed on reworking the scheme which would see individuals with more than $3 million in super being taxed .

The treasurer said the government was prepared to change the proposal “in order to get it through parliament”.

“These are sensible changes which take more than two years of feedback into account,” Chalmers said.

“We have worked through the issues and found another way to deliver on the same objective.

Included in the changes is the $3 million threshold — incurring a 30 per cent tax rate — now being indexed, meaning fewer Australians will be caught in the bracket in the future.

A new $10 million threshold — also

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