Wealthy rush to avoid new superannuation tax on $3 million accounts that targets earnings of unrealised assets

Title: Investors with more than $3 million in their superannuation accounts at the moment are increasingly nervous about a proposed new tax that will eat into some super earnings that are yet to be sold or realised. There are concerns that more Australians might be hit in the future given that the proposed levy isn't indexed for inflation if it passes into law. Also, the Telecommunications Industry Ombudsman says there's been a rise in complaints as consumers struggle to pay bills during th cost of living crisis. And economists will be watching the April employment update out this morning - the final data as the Reserve Bank considers an interest rate cut next week.