Cassandra Fernando
Holt · Australian Labor Party · Australia
“Labor was elected with a clear promise: to back working families with real cost-of-living relief. From 1 July, we are delivering. Whether it's a young worker stacking shelves at Woolies while studying or new parents welcoming their first child, Labor is making life a little easier.”
“It is practical, it is targeted and it is exactly the kind of work that growing communities like Holt need. This investment is part of our broader $47 billion Homes for Australia plan. We are making it easier to buy and better to rent, and we are building more homes.”
“But we also have to confront the parts of the system that have made it harder for first home buyers. For too long, the tax system has given investors an advantage over young Australians trying to buy their first home.”
“More homes mean more choice, more affordability and more Australians getting the chance to live near work, family, school and community. But housing does not get built by words alone. It needs roads. It needs water. It needs drainage, utilities and local infrastructure.”
“Housing is one of the great challenges facing our country. It is a challenge I hear about every week in Holt. I hear it from young people who are working hard and saving carefully but still feel the dream of owning a home is moving further away. I hear it from families who want security, stability and a place to put down their roots.”
“They invested just $123 million in housing-enabling infrastructure. They said no to the Housing Australia Future Fund. They said no to Help to Buy. They said no to Build to Rent. They said no to Labor's five per cent deposit scheme. In government they even said no to having a housing minister.”
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“Today the Fair Work Commission has delivered a long-overdue decision and abolished junior pay rates for Australians over 18. This landmark case, led by the SDA, confirms what working people have always known: if you are old enough to work, you are old enough to be paid properly. Eighteen-, 19- and 20-year-olds pay the same for rent, groceries and petrol, so why have they been paid less? Half a million young workers will benefit. These wage rises will be phased in over four years, with an 18-year-old seeing up to a 42 per cent increase, around $284 more a week in today's terms. I want to thank the SDA for their Adult Age = Adult Wage campaign but, most importantly, I want to acknowledge Michael Donovan. For 30 years, Michael has stood with some of the lowest paid workers in this country.”
“I was also pleased to attend a celebration organised by Serendib Crew Southeast Melbourne, whose work brings people together and fosters a strong sense of belonging. As the first Sri Lankan-born MP in this parliament, it gives me immense pride to see the extraordinary contribution Sri Lankan Australians make to our nation every single day. To everyone celebrating, I wish you a happy, peaceful and prosperous new year. Suba Aluth Avuruddak Wewa!”
“Ayubowan. As we approach the Sri Lankan New Year, Sri Lankan Australians in my electorate of Holt are coming together to celebrate with joy, cultural pride and community spirit. This special occasion marks the end of the harvest season and the beginning of the new year, celebrated through traditions that symbolise renewal, prosperity and goodwill. But beyond the rituals and festivities, it is ultimately about the values that matter the most: family, community and togetherness. I was delighted recently to join in two Sri Lankan New Year celebrations. One was hosted by Jannali Dance Academy, and I want to acknowledge the incredible work they do teaching dance and culture to young people across our community.”
“Events like these remind us that multiculturalism is not just something we talk about; it is something the Labor Party embraces and that we live every day in Melbourne's outer south-east. This was my fifth time attending this event, and, each year, it is a joy to join the Afghan Australian community in celebrating Nowruz. I want to thank president Zabi Mazoori, event coordinator Hafiz Asadi, Hadi Karimi and all VAAN volunteers for their hard work and for always welcoming me so warmly on each occasion.”
“On the weekend, I joined the Victorian Afghan Associations' Network to celebrate the holiday of Nowruz. Nowruz has been celebrated for over 3,000 years by peoples of many religions and cultures across the lands of the ancient Persian empire. It marks the New Year and the arrival of spring in the Northern Hemisphere. While our seasons differ here in Australia, the spirit of Nowruz is alive and thriving in my electorate of Holt, which nearly 12,000 people from Afghanistan call home. In Dandenong Park, more than 10,000 people gathered to celebrate with poetry, traditional music, dancing and cultural performances that reflect the diversity of the different cultures that make up the Afghan Australian community.”
“I look forward to attending the Good Friday service at Saint Agatha's in Cranbourne and joining my community in reflection. To all those celebrating Easter across Holt and right across our nation, I wish you and your family a blessed Easter. God bless you all.”
“I rise today as Christians in Holt and across Australia prepare to mark Easter, the most sacred time in the Christian calendar. Easter is a time of deep faith, reflection and hope. It reminds us of the suffering, sacrifice and the resurrection of Jesus Christ, and the enduring message at the heart of the gospel—love, mercy, forgiveness and new life. For many families in my electorate, Easter is a time to gather with family, attend church services, pray and reflect on the meaning of Christ's journey to the cross. It is also a time to renew our commitment to kindness, compassion and service, and to carry the spirit of Easter into our homes and our communities. Above all, Easter reminds us that even in darkness there is light, even in suffering there is grace, and even in sorrow there is a promise of renewal.”
“Whether it's responding to floods, storms, earthquakes or landslides, your work embodies the very best of our community spirit and dedication.”
“Over 291 women in Victoria attended this training across seven sites, including at the Cranbourne SES unit, in my electorate. It was a privilege to attend and witness firsthand the skill, professionalism and dedication of these incredible volunteers. The day showcased the crucial role the Cranbourne SES plays in our community to keep us safe, whether responding to storms, floods or emergencies. What stood out the most was the strong focus on encouraging more women to step forward into operational roles. Programs like Women in Rescue are breaking down barriers, including confidence, and ensuring our emergency services better reflect the communities they serve. I want to thank Deputy Controller Julie for inviting me for the day and all the SES volunteers for their service and commitment.”
“It was a powerful reminder of what modern Australia looks like at its best—people from different cultures, faiths and backgrounds coming together, united by a shared commitment to our country. It reflected a simple truth that our diversity makes us stronger and that every Australian deserves to feel safe, respected and included. I also want to make it clear that racial discrimination has no place in our country. It undermines fairness, damages social cohesion and stands in direct opposition to the values we uphold in this parliament. Labor believes in dignity, respect and a fair go for all Australians. For everyone who lives here and commits to our nation and to our democracy, I will always stand to ensure you have a place to belong and an opportunity to thrive. The SES recently hosted their Women in Rescue initiative.”
“I rise to acknowledge that last Saturday marked the International Day for the Elimination of Racial Discrimination. In my electorate of Holt, multiculturalism is a part of everyday life. I see it in our schools, our small businesses and our community organisations, where people from diverse backgrounds come together and contribute to a shared Australian story. Families from all over the world have made Holt their home, bringing with them their cultures, languages and traditions. Diversity is one of our greatest strengths. It enriches our community, strengthens our economy and reflects the best of modern Australia. Last week, I stood with the Prime Minister and colleagues from across our parliamentary team.”
“That is the Labor tradition. That is the responsibility we carry. That is exactly what this legislation seeks to advance. I thank the Minister for Health and Ageing, the Hon. Mark Butler, for his work on this bill and for his continued work on ensuring our healthcare system is accessible for every Australian. I commend this bill to the House.”
“By increasing transparency in pricing and expanding consumer protections, we are making sure the healthcare system continues to work for all Australians. I know there is much more work to be done. I know that Labor is the only party that will deliver real reform that delivers for families in communities like mine in the outer suburbs. Labor has always been the party of Medicare. We created it, we have defended it and we will strengthen it—because access to health care is not just a policy; it is about dignity. It is about ensuring that no parent has to choose between their child's health and the weekly grocery bill. It is about ensuring that no pensioner skips a specialist appointment out of fear of the unknown invoice. It is about ensuring that every Australian, regardless of income, background or postcode, can access the care they need.”
“When companies exploit loopholes to push through excessive price increases, they erode public trust not just in their own brand but in the system as a whole. This bill will close that loophole. It will outlaw the practice of product phoenixing, ensuring that insurers cannot bypass government oversight by gaming the system with technical restructures and product relaunches. If a premium increase is not approved, insurers will not be able to simply repackage the product and impose it anyway. This reform strengthens consumer protection, and it sends a clear message: transparency and fairness are not optional in Australia's health system. Labor believes that, whether you rely solely on Medicare or choose to take out private cover, you deserve honesty, accountability and respect. This bill delivers exactly that.”
“Product phoenixing occurs when an insurer closes an existing insurance product, often one whose price rise has been restricted, only to launch a nearly identical product days later at a much higher premium—same coverage, same target market, different name, higher price. It is underhanded, it is sneaky and it undermines the very regulatory framework designed to protect Australian families. In a year when private health insurers have collectively made over $2 billion in after-tax profits, and when families are grappling with mortgage stress, grocery bills and rising energy costs, this behaviour is not acceptable. Private health insurance is not a luxury item marketed to the highest bidder. It is a core part of Australia's health system.”
“For many families in communities such as Cranbourne, Clyde and Hampton Park, those premiums are not small change. There are hundreds of dollars a month paid in good faith, with the expectation of certainty and value. Each year, private health insurers must apply to the Commonwealth government for approval to increase their premiums. Those applications are carefully scrutinised. They are assessed against the financial sustainability of the sector and the impact on policyholders. Often insurers seek increases that are well above the CPI, and the government's process exists for a reason: to protect consumers. But some companies have sought to get around that safeguard. In cases where the government has limited or rejected proposed premium increases, some funds have engaged in a practice known as phoenixing.”
“The Minister for Health and Disability, Mark Butler, has indicated that the Albanese government is considering how far it can go, and it will test constitutional boundaries that have long constrained government regulation of specialist fees because, to every Australian out there, this is a government that has heard your struggle, and this is a government that has your back. There is a second and equally important element of this bill, one that goes directly to fairness for the nearly half of Australians who hold private health insurance. Around half of all Australians choose to take out private health insurance, often at significant expense to their household budgets. In Holt, 68,700 people are covered by private health insurance, meaning 35.4 per cent of all people are covered by private health insurance plans.”
“Rachel David, from Private Healthcare Australia, stated, regarding the reforms: Private Healthcare Australia has welcomed the Federal Government's legislation to upgrade the Medical Costs Finder website, saying it is a critical step toward tackling Australia's growing specialist fee crisis. Catholic Health Australia director of health policy, Katharine Bassett, said making the data publicly available 'is critical, as out-of-pocket costs for specialist care are rising and becoming increasingly unpredictable for patients'. We know that greater transparency increases competition, and competition, in turn, places downward pressure on excessive pricing. This reform is about restoring balance in a system where patients often feel powerless. Let me be clear. This is not the end of the conversation.”
“By uploading specialist fees online for all providers, we are allowing consumers to check fees before they attend a specialist appointment, empowering them to make informed choices. Patients will be able to compare costs for their health care and shop around for the best prices, just as they would for groceries, household services or any other everyday expenses. The report by Private Healthcare Australia further showed that patients are now paying a median of $270 for specialist in-hospital care. Outside of hospitals, some patients are being asked to pay up to a thousand dollars for an appointment with a specialist doctor.”
“Nearly 30 per cent of Australians have delayed or cancelled specialist care because of cost. This is a situation that cannot stand. Health care delayed is often health care denied. When people put off appointments, conditions get worse. What might have been a manageable issue can turn into something far more serious and far more expensive for both families and the healthcare system. This issue is worse in outer suburbs where people are making those difficult decisions between paying the mortgage or going to a specialist appointment. Specialist fees can vary significantly between suburbs, between providers and between hospitals, sometimes with no clear explanation for patients.”
“This bill will increase transparency by allowing the Department of Health, Disability and Ageing to publish medical practitioner fees and out-of-pocket expenses on the government's Medical Cost Finder website. The department already holds significant amounts of this information through Medicare, hospital and insurer billing data. Once passed, this legislation will enable the department to publish that information without requiring provider consent, ensuring that patients have access to clear, accurate and up-to-date data, because transparency matters. In a report by Private Healthcare Australia, titled Restoring affordable access to specialist care in Australia , it was found that one in two patients did not know their fee before attending an appointment.”
“I have met with families who told me about the heartbreaking decisions they are forced to make each week—whether to put food on the table, pay the mortgage or see a medical specialist. This is not an Australian promise. Many residents have raised concerns about exorbitant specialist fees even after being referred by their GP. These fees are often in the hundreds or even thousands of dollars per visit. They are rising year after year. For many families in rapidly growing outer suburbs and communities like mine, this is simply unsustainable. Our government is committed to fixing this, and this is why we are now turning our attention to specialist fees. This bill represents the first step in that process.”
“That's why, when we were re-elected, Labor committed to restoring bulk-billing for GP visits, investing over $8.5 billion so that all Australians can see a GP for free. That is the largest investment in Medicare in its history. But we know that restoring bulk-billing is only part of the solution. Throughout my first term in this parliament, I heard from countless families across my electorate about the very real difficulties they face accessing health care. I have sat with young parents who are working two or three jobs and still struggling to cover medical fees. I have spoken with older residents who delay scans or follow-up appointments because they simply cannot afford the out-of-pocket cost.”
“It was another Labor government, under Prime Minister Gough Whitlam, that established Medicare in 1974. It was the first truly universal health insurance scheme in this country. And it was a Labor government, under Prime Minister Bob Hawke, that delivered Medicare in 1984. The system remains one of the proudest achievements of modern Australia. Medicare is more than a program; it is an expression of our national character. It says that, in Australia, your access to a doctor depends on your Medicare card, not on your credit card. Access to health care was a central pillar of Labor's re-election campaign because we know that cost-of-living pressures are real and that healthcare affordability is at the centre of those pressures.”
“Access to health care lies at the very foundation of the Australian Labor Party. It is not an optional extra. It's not a privilege reserved for those who can afford it. It is a right and it has been a defining mission of Labor governments for generations. It was the great Ben Chifley government that, in 1946, put forward a referendum to give the federal parliament the power to legislate for sickness and hospital benefits. That referendum led to what we now know as section 51(xxiiiA) of the Constitution, empowering the Commonwealth on 'the provision of maternity allowances; widows pensions; child endowment; unemployment, pharmaceutical, sickness and hospital benefits; medical and dental services, but not so as to authorise any form of civil conscription; benefits to students; and family allowances'.”
“Before this program began, there were just 721 home batteries across our community. By early March, that number had risen to 1,741. That is an increase of more than a thousand installations, and it means Holt now ranks fifth in Victoria for the battery uptake. That is not just a statistic; it means more local families keeping more money in their pockets. This is what Labor governments do. We back Australians with practical policies that ease the pressure on household budgets now while preparing our country for the future. House adjourned at 20:00”
“At a time when households are doing everything they can to manage rising costs, many families want to bring down their power bills, improve the efficiency of their homes and take part in energy transition. But too often the upfront cost of a battery has been a major barrier. That is exactly why Labor's 30 per cent discount matters. It is bringing that upfront cost down and making home batteries much more affordable for households. The result is lowering power bills, greater control over household energy use and less pressure on the grid. This policy is already making a real difference across the country, with more than 250,000 households, small businesses and community organisations having installed a battery under Labor's Cheaper Home Batteries Program. In Holt, I'm incredibly proud of the local uptake.”
“I am proud to be a part of a Labor government that sees multiculturalism as one of Australia's greatest strengths, not something to be exploited for political gain. I thank my parliamentary colleagues who made the trip down to join us—Minister Tony Burke, who attended as our special guest, and the member for Deakin, Matt Gregg, who did a fantastic job as emcee for the evening. I also thank Yvette and the entire venue team for their tremendous work behind the scenes, which helped make the evening such a great success. I want to turn to a policy that is delivering real cost-of-living relief for households in Holt—Labor's Cheaper Home Batteries Program. Home batteries let you store cheap solar energy generated during the day to use at night, when families are home and need it most.”
“I congratulate Michael and everyone at Moonlit Sanctuary on this important milestone, and I thank them for everything they have done over the past 25 years. This strong community spirit brings me to another fantastic local event: the fourth annual Holt Harmony Gala, which I hosted in my electorate last weekend during Harmony Week. It was a wonderful evening and a very strong reflection of the community I represent in this place. Holt is one of the most multicultural electorates in Australia. In our community, people from many cultures, faiths and backgrounds live side-by-side and raise their families, run businesses, volunteer, worship, celebrate and contribute immensely to our nation. The gala was an opportunity to proudly celebrate that diversity. It was a night that brought together culture, connection and community spirit.”
“I begin with a remarkable local milestone—the 25th anniversary of Moonlit Sanctuary in Pearcedale. I was pleased to join the community in marking this special occasion and to recognise the extraordinary work of Michael Johnson and the entire team behind Moonlit Sanctuary. Over the past 25 years, their dedication has helped build the sanctuary into one of Victoria's leading wildlife conservation and education centres, playing an important role in protecting native wildlife, supporting breeding programs for threatened species and inspiring visitors of all ages to develop a deeper appreciation for our natural environment. What began as a childhood dream has become a source of pride for Pearcedale and the wider Holt community, attracting visitors from across Victoria and contributing to local jobs and tourism.”
“By supporting our students, we empower our entire nation. Labor will always back TAFE, back workers and back Australians. (Time expired)”
“To so many Australians, TAFE is not just a qualification; it is a second chance, a fresh start and a reliable pathway to economic security, which is why this reform matters so profoundly. When we invest in skills, we are not just helping people into jobs; we are building the workforce this country needs. Despite all of these undeniable economic and social benefits, the Liberals and Nationals still voted against making free TAFE permanent. They recklessly dismissed it as wasteful spending. After years of the coalition neglecting the sector, Labor is reversing the damage. We are rebuilding TAFE, backing public education and ensuring that opportunity is not reserved for those who can afford it but is available to anyone willing to work for it. This government believes in the power of education to uplift communities and drive progress.”
“We were there to celebrate three years of the federal free-TAFE program, and it was deeply inspiring to hear directly from students about how free TAFE is helping them gain the skills and confidence to build a better future. I hear the same stories in my electorate of Holt every single week. Constituents tell me how free TAFE has transformed their lives. For some, it's a chance to retrain for a career in nursing. For others, it's an opportunity to finally start in construction or community services, without carrying the unmanageable financial burden. As a proud TAFE graduate myself, I know firsthand that TAFE changes lives. I know the value of that educational path and the profound confidence it gives.”
“Driven by this success, Labor has made free TAFE permanent. We are investing over $1.6 billion, through to 2034-35, to support at least 100,000 free TAFE and VET places every year from 2027. This matters because it gives certainty to students, certainty to training providers and certainty to industries in need of skilled workers. This is what good Labor policy looks like—practical, targeted and focused on opening doors. At the end of January I joined the Minister for Skills and Training, Andrew Giles; Victoria's minister for skills and TAFE, Gayle Tierney; and the member for Melbourne, Sarah Witty; at Box Hill Institute.”
“It's an investment in the essential workers our communities need, laying the foundation for the stronger economy our country depends on. Right now, free TAFE is delivering for our national priorities. It is training the tradies who will build the homes we need urgently. It is training the dedicated care workers who will support our older Australians and people with disability. It is opening doors for early childhood educators, hospitality professionals and the highly skilled workforce essential to building a future made in Australia. The Australian people have enthusiastically embraced this initiative. Free TAFE has now supported more than 740,000 enrolments nationally. This staggering number is not just demand; it is a testament to what happens when a government removes financial barriers and backs its citizens.”
“I rise to support this motion because free TAFE is fundamentally about fairness, opportunity and the future prosperity of this country. At its core, this policy represents a powerful idea. No Australian should be locked out of education and skills training simply because they cannot afford the upfront cost. No-one should be forced to put their ambitions on hold because the qualification they need is out of reach. Let us be clear: no government serious about boosting productivity, economic growth and social mobility can ignore the paramount importance of skills and training. This is exactly why the Albanese Labor government proudly backs free TAFE. We know that investing in public education means investing in our people.”
“They need homes, and only Labor is getting on with the job of delivering them. I want to commend the Minister for Housing, Clare O'Neil, for her work over the last two years. In the face of obstruction she has shown determination and a genuine commitment to tackling the housing crisis.”
“In my home state of Victoria, we are already seeing that ambition, with an even bolder target to increase housing supply and unlock more homes for future generations. Labor has a plan, Labor is delivering on that plan, and Labor is focused on outcomes: more homes, more affordability and more Australians with a place to call their own. Australians should not be fooled by the Liberal-National coalition. The Liberal and National parties have opposed measure after measure designed to improve housing affordability. At the last election they promised to scrap existing programs, with no credible replacement, and even today Australians are still waiting to hear what their plan actually is. So I say this clearly: Australians cannot afford more delay, more obstruction, more empty promises.”
“It cannot be solved overnight, and no-one pretends otherwise. It demands commitment, consistency and real policy. That is exactly what Labor is delivering. We are working with states and territories to build 1.2 million new, well-located homes by July 2029, and we are investing more than $43 billion to make that happen. We went to the election promising $10 billion to build 100,000 homes reserved for first home buyers, we have expanded access to the five per cent home deposit scheme so more Australians can enter the market sooner, and we are doing the hard work with states and territories to reform planning systems, making it easier to build the medium-density housing Australians need—closer to jobs, transport and opportunities.”
“They voted against Labor's five per cent home deposit scheme, which has already helped 230,000 Australians get into their first home; they voted against the Help to Buy shared equity scheme, a model proven across the world; they voted against increasing Commonwealth rent assistance for the most vulnerable renters in my electorate; and they voted against our build-to-rent scheme, designed to deliver more than 80,000 long-term rental homes. Every step of the way, when given the choice, they have chosen to stand in the way of housing affordability. I will not be lectured by a party that, when in government, couldn't even be bothered to appoint a housing minister for six out of their nine years in office. That is not leadership; that is neglect. The housing crisis we face today is serious.”
“But what makes their argument truly cynical is this: while they complain about delivery, they actively worked to stop it. They blocked, delayed and voted against the Housing Australia Future Fund, voting against 40,000 social and affordable homes for Australians who desperately need them. And this is not a one-off. The Liberal-National coalition has consistently voted against every serious measure to improve housing affordability in this country.”
“Since being elected in 2022, Labor has made one thing absolutely clear. We are determined to help more Australians into a home of their own. I have to say, it's quite remarkable to hear those opposite criticise the Housing Australia Future Fund. The member for Fadden points to 895 homes delivered so far, as if that proves failure. Let's be honest: even that cherrypicked number is more than double the 373 social and affordable homes delivered over an entire decade by the former Liberal-National government. That is the record they're bringing into this chamber, and their criticism ignores a simple reality: housing construction takes time. It takes time to secure land, complete design, obtain approvals and build. Two years in the construction sector is the very beginning, not the end, of delivery.”
“That is why I'm so proud to be a part of a federal Labor government that has a majority of women in its caucus—a government that values women's leadership and puts women's voices at the centre of decision-making, unlike those opposite. To every young girl across our country: your voice matters, your ambition matters and your future should have no ceiling.”
“As we marked International Women's Day on Sunday, I rise to recognise the incredible women in Holt and right across Australia who contribute so much to our communities, our economy and our society every single day. This is a chance to celebrate progress while recognising there is still a lot more work to do. We need to see more women in leadership, more women as CEOs, and we must keep breaking down barriers so women are represented at every level. As a mother, I know women so often carry not only our their ambitions but the hopes of their families as well. Across Holt I see that every single day, with mothers working long shifts, with women running small businesses, with young women chasing big dreams and with community leaders giving back with courage and compassion.”
“Moments like this showcase the very best of our community. In Holt, we are proudly diverse, with people from many cultures, languages and traditions calling our community home. I say a huge thankyou to the organisers, volunteers, performers and stallholders who worked so hard to make these celebrations possible. Happy Holi.”
“I want to begin by wishing all Australians of Indian heritage in Holt and across Australia a very happy Holi. Holi celebrates the arrival of spring, the triumph of good over evil, and people coming together in a burst of colour and joy. Over the weekend in Holt, thousands of families came together to celebrate this beautiful festival. I had the pleasure of attending two fantastic Holi celebrations with our local community—one organised by Lynbrook Residents Association and the other by the Bright Events. Both events were filled with colour, music and an incredible sense of community spirit. Families, friends and neighbours came together to celebrate culture, share food, enjoy performances and, of course, take part in the tradition of throwing colours. I have to say I absolutely loved joining in and playing with colours.”
“In communities like Holt, where families are building their futures, where young workers are starting their careers and where parents are planning for their children's security, superannuation matters. It matters that the system is strong, it matters that it is fair and it matters that it is sustainable for generations to come. I commend this bill to the House.”
“Analysis from the Super Members Council suggests that women will make up around 60 per cent of those benefiting from this reform, with some projected to be up to $60,000 better off in retirement after their working lives. That is real progress in closing the retirement gender gap. These reforms are about fairness. They reduce excessive tax concessions for the wealthiest 0.5 per cent. They strengthen retirement savings for millions of low-income workers. They protect the long-term sustainability of the system. They keep superannuation true to its purpose, delivering income for a dignified retirement. I want to acknowledge the leadership of the Treasurer, Jim Chalmers, and the Assistant Treasurer, Daniel Mulino, through their work on this legislation. This bill reflects Labor values: fairness, responsibility and long-term thinking.”
“Importantly, the revenue raised from these reforms will strengthen support for low- and middle-income workers. We are boosting the low-income super tax offset, the LISTO. We will increase the eligibility threshold to $45,000 and lift the maximum payment to $810. This will benefit more than three million Australians. In Holt, that includes early childhood educators in Narre Warren, retail workers in Cranbourne, hospitality staff in Hampton Park and aged-care workers right across my community. These are the people who keep our local economy running. Many are women. Many work part time. Many earn modest incomes while juggling family responsibilities.”
“Today, fewer than 0.5 per cent of Australians have a super balance above $3 million. For those individuals, even under minimum drawdown rates, they would be expected to receive $150,000 per year tax free in retirement income. Under this bill, there are no changes to tax arrangements for balances under $3 million. Earnings on balances above $3 million will be taxed at 30 per cent. For balances above $10 million, the rate will be 40 per cent—still below the top marginal income tax rate of 45 per cent. These changes are modest. They affect only the wealthiest fraction of account holders and they ensure that superannuation remains focused on delivering retirement income, not functioning as an unlimited tax advantage wealth accumulation vehicle.”