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Treasurer Jim Chalmers (Image: AAP/Mick Tsikas)

Was Jim Chalmers’ backdown on superannuation concession changes the welcome abandonment of bad policy, a backflip and a cave-in to vested interests , or even a Machiavellian play by the treasurer to convince the super sector to agree to being taxed more heavily? Perhaps a bit of all three.

The higher tax rate for super accounts over $10 million places an effective cap on the limitless super accumulation allowed by the rorts of the Howard-Costello era, since the super-wealthy who fall into this category will have to shift assets above $10 million out of super to avoid paying higher tax rates (most likely into other obnoxious tax loopholes like

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