Warning for farmers, investors to think but not panic as Jim Chalmers finalises plans for new big super hit

Farmers and other holders of chunky assets have been told not to panic as Federal Treasurer Jim Chalmers pushes ahead with plans for a 30 per cent tax rate on super balances above $3 million.

With the Federal Treasury having just completed final consultation, super industry advocates are now lobbying Canberra cross-bench politicians to modify the proposed laws when they go before Parliament next year.

Perth-based financial adviser Bryn Evans said people with big superannuation balances should should start thinking about the possible effect on their portfolio and their cash-flow in less than three years.