It was the superannuation tax plan that helped Labor achieve a landslide victory in the last election. Though some of Australia’s wealthiest Australians - who were hit hardest by the plan - cried foul, the government has been saying, for more than two years, that it would NOT change its super proposals.

Flash forward to this week, when, in an embarrassing political backflip, treasurer Jim Chalmers announced, yep, major changes to it.

Today, senior economics correspondent Shane Wright on what these changes are, and how you’ll be impacted by them.