Jim Chalmers 2022

Our reforms to the low income superannuation tax offset will help deliver a more secure retirement for more than a million Australians, including hundreds of thousands of young people and women.

We are making the super system fairer from top to bottom.

The majority of people who will benefit from changes to the low income superannuation tax offset (LISTO) are women.

Sarah Ferguson:

Treasurer, welcome to 7.30.

Jim Chalmers:

Thanks very much, Sarah.

Ferguson:

Now, for months, you argued that the changes you proposed to the super tax system were a fair and reasonable way of addressing wealth inequality. What convinced you to drop those arguments?

Jim Chalmers:

Kieran Gilbert:

Jim Chalmers joins us now, I have to get straight to him. It’s a big deal, this. You’ve rewritten basically the tax plan on superannuation. Can I just get clarity? You’ve abandoned the taxing of unrealised gains. Why is that?

Jim Chalmers:

The Albanese Government is delivering more help to low‑income workers and reforming the superannuation system to make it stronger, fairer and more sustainable.

We are boosting the low‑income superannuation tax offset (LISTO) and making a number of important changes to better target superannuation concessions for large balances.

I move that this Bill be now read a second time.

Today I am proud to introduce the Treasury Laws Amendment (Payday Superannuation) Bill 2025.

This Bill reforms our superannuation system to help ensure more Australians get the secure retirement they need and deserve.

From waiters and nurses –

To builders and teachers –

Aged carers and hairdressers –

The Albanese Government has appointed Luke Woodward as a full‑time member of the Australian Competition and Consumer Commission (ACCC) for a five‑year period.

This appointment will help ensure one of the nation’s most important economic institutions has the talent and expertise to remain strong and effective into the future.

Today, the Albanese Labor Government has introduced legislation to require super to be paid on payday, a reform that will benefit the retirement incomes of millions of Australians.

This legislation is all about reforming our superannuation system to help ensure more Australians get the secure retirement they need and deserve.

Speaker,

I move that this Bill be now read a second time.

Today, I am proud to introduce the Regulatory Reform Omnibus Bill 2025.

This is another important step in implementing our government’s agenda to make our economy more dynamic, resilient and productive.