Julie-Ann Campbell
Moreton · Australian Labor Party · Australia
“It was Steven Miles who introduced 50c fares, which go to making sure that people can have relief when they tap their card at the bus or to get on the train. And it was many energy workers who came together to make sure that publicly owned renewables could be back in state government hands.”
“We just heard during the MPI in this parliament every excuse that they could think of—every obfuscation that came to mind, every reason—to not back reform that protects our children. The news I want to give to those opposite is this: we will not lie down when it comes to ensuring that Australian children are safe.”
“It is important to remember that yesterday marked a tax cut, the fifth from this government, for every Australian taxpaying worker. It is important to remember that this government, unlike those opposite, backed in minimum and award wage increases which came into effect yesterday.”
“Yesterday didn't just mark the beginning of a new financial year, it marked the next step in the Albanese Labor government's crusade to ensure that cost-of-living relief is delivered to everyday Australians, and it sits in stark contrast to what we've seen from those opposite this week.”
“If you've ever sat in your car at the Coopers Plains crossing on Boundary Road, you would know that it can feel like an absolute eternity. It's been consistently named by the RACQ as one of the worst crossings in our entire state. Locals in my community have been waiting decades for the promised overpass to that rail level crossing.”
“But if you'd cracked open the LNP's budget last Tuesday, what you would have found as you sorted through the papers is that there was no commitment and no timeline to this important project being delivered, despite the state previously having committed $179.5 million to the project as well.”
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“This was the outcome of the Independent Review into Commonwealth Parliamentary Workplaces, led by Sex Discrimination Commissioner Kate Jenkins, which was delivered in November 2021. The report documented widespread challenges, including bullying, sexual harassment and even cases of sexual assault. These were problems that needed addressing as a matter of urgency. Those widespread problems were in Commonwealth parliamentary workplaces. It revealed a culture with power imbalances. It revealed a culture with poor accountability and unsafe ways for people to report concerns. To address these issues, the report set out 28 recommendations aimed at improving the culture of Commonwealth parliamentary workplaces and, indeed, embedding best practice workplace standards.”
“The Parliamentary Frameworks Legislation Amendment (Reviews) Bill of 2026 is an administrative bill that amends certain different—and, indeed, connected—legislative frameworks associated with Commonwealth parliamentary workplaces. While parliamentary frameworks legislation might not float everyone's boat, it's important. It's important, because this is also a bill that speaks to the bigger picture. It speaks to the bigger picture of parliamentary workplace reform, and it speaks to that bigger picture that has been driven over the last few years by this Albanese Labor government. Of course, when we think of parliamentary workplace reform, many of us immediately think of the Set the standard report.”
“It's Ken, who saves money every month because we've made medicines cheaper; it's Lynn, who now has an urgent care clinic right next door, giving her easy access to health care; and it's Helena, a third-year Griffith Uni student who has benefited from 20 per cent off student debt. They can't vote against these core delivery things without voting against Australians. When you short Australia, you short Helena, you short Ken, you short Lynn, and you short every single Australian in this nation.”
“Yesterday we heard that the shadow Treasurer tried to short Australia. He tried to short Billy Joel as well, but that's another story. He tried to bet against us and he hoped for our nation to fail. It shouldn't surprise anyone here, because we know that the shadow Treasurer is part of a coalition that has a track record of shorting Australians. They shorted Australians when they voted against 20 per cent off student debt, they shorted Australians when they voted against free TAFE, and they shorted Australians when they tried to dismantle bulk-billing. That stands in stark contrast to what the Albanese Labor government is delivering on. That delivery has a face—the face of people who are assisted every day by what we are doing for what Australians care about the most.”
“It's about making sure that, when it comes to these standards, there is a single body that allows people to understand what is being reported and how it's being reported, and to have confidence and faith in that system. The establishment of ERA based on principles of flexibility, preservation and accountability will strengthen Australia's standard-setting framework and set these systems up for growth and, importantly, for adaptation.”
“When making appointments, the minister must consider whether the council as a whole has an adequate level of representation from individuals who are and are seen to be independent of Australian audit firms. This requirement reflects the fact that auditors are subject to the auditing standards produced by ERA and aims to help manage the risk of actual or perceived conflicts of interest among appointees who work within the auditing profession. What is clear from this legislation, from the discussions we have in this place and from talking to businesses out in our community, whether they be big or small, is that, when it comes to financial reporting, people want clarity, people want stability, people want to understand what is happening and people want to know how it's happening, and that's what this bill is about.”
“Each board will work within its specialised area, contributing the expertise required to maintain high-quality, well-informed standards. The legislation also provides flexibility for ERA to evolve over time. Through legislative instrument, the minister may assign additional responsibilities to ERA, such as developing standards in new areas, should the need arise. This approach is designed to allow the system to adapt efficiently, making use of ERA's established government framework and technical capabilities. It's about making sure that it has the flexibility to do what it needs to do, at the same time as having the safeguards in place to make it safe and to give Australians the confidence that they need. A new requirement is also included regarding appointments to the governing council.”
“The framework also allows the minister to appoint non-voting associate members, who can contribute additional experience and perspectives to the council's discussions without being part of its formal decision-making authority. The governing council will also be responsible for creating and appointing ERA's internal technical boards. These boards will focus on the detailed development and refinement of specific types of standards. Under the framework, at least one technical board must be established for each of the main categories currently covered by the Australian Accounting Standards Board and the Auditing and Assurance Standards Board. These are accounting standards, auditing and assurance standards, and sustainability related standards.”
“These instruments will be subject to consultation requirements and parliamentary oversight, ensuring that the boards' operational settings are transparent, carefully considered and open to scrutiny. The goal is a system where roles are well defined, accountability is practical and workable and the public can have confidence in how these decisions are made. A governing council will oversee ERA and serve as the organisation's accountable authority. It will hold responsibility for supervising all aspects of their work. The council's collective decision-making structure is intended to support balanced oversight, helping to ensure that standard-setting activities are not shaped too strongly by the views of any single member or, indeed, by the interests of any particular cohort or sector. It has to be a collective decision.”
“The bill also introduces stronger transparency measures for ERA's operations. Any part of a meeting, whether of the governing council or of one of ERA's standard-setting boards, that relates to the substance of particular standards must take place in public. This is an important transparency measure, and it's intended to give stakeholders and the community a clearer view of how standards are discussed, developed and finalised. The legislation will set out the procedural rules that guide how the governing council conducts its work, providing a consistent framework for decision-making. For the technical boards, the detailed rules and processes will be established through legislative instruments.”
“This includes stronger mechanisms for oversight, clearer lines of decision-making and an approach that actively manages potential conflicts of interests. When an organisation like ERA depends on up-to-date, highly specialised knowledge to produce strong and reliable standards, it's inevitable that many of those experts will also be active professionals in their fields. That reality makes it especially important to handle any potential or perceived conflicts of interest in a balanced but also practical way. This bill supports that by putting safeguards in place so the community can trust both the integrity of the standard-setting process and the quality of the standards themselves. It's about ensuring openness, it's about ensuring clarity, and it's about ensuring confidence at every single step of the way.”
“ERA builds on the knowledge base that has served business regulators and the community very well, ensuring that the reforms enhance rather than disrupt the qualities that underpin accurate and reliable standard setting. To this end, existing standards will continue as standards of ERA until they are updated or until they're replaced. Finally, ERA was established with a principle of strengthening accountability. A clear and transparent government framework is critical for any entity that's responsible for setting standards that affect the broader community, that affect Australians, that affect businesses, that affect the market, that affect who we are as a country. ERA has been designed to align responsibility with authority so the people tasked with overseeing performance also have the ability to address issues when they arise.”
“It's worth looking at the core principles behind the establishment of ERA. The first is flexibility. A modern reporting system needs to keep pace with a world that is changing faster than ever, whether that's new technologies or emerging business models. ERA has been structured to remove unnecessary barriers and give standard setters the room to respond quickly when new challenges or opportunities arise. A single entity is better placed to operate efficiently in the face of these kinds of changes. The second guiding principle is preservation and retaining the strengths that have consistently delivered high-quality standards. That means protecting the deep technical expertise and specialist knowledge essential for credible and trusted reporting.”
“We see it in the absolute transformation of business. We see it in the emerging digital assets sector. We see it being used at the checkout, at the pump. Everywhere that is important to everyday Australians we are seeing technology take off, and making sure that our regulation and our laws cover that new technology is incredibly important. We saw that in some of the financial bills that were moved last year, and we saw it more recently with the Corporations Amendment (Digital Assets Framework) Bill. Not only is this a government that is focused on ensuring that the technology that is here now is up to date and that our legislation accounts for it; it's also a government that is focused on setting up systems and setting up regulatory frameworks that allow us to grow and move with that rise and with that change in technology.”
“They also reinforce accountability in public institutions, making sure that government reporting is transparent and held to the same expectations of quality and clarity that we know are so critical. The legislation will strengthen the overall reporting framework so it can more effectively keep pace with new developments in Australia and also overseas. This includes ensuring the system is better equipped to respond to evolving market practices, changes in technology and shifts in international standards. By creating a structure that can adapt more easily, the framework is designed to remain relevant, reliable and aligned with global expectations. The future is here when it comes to being future focused. We know that technology is moving at an incredibly rapid pace. We see it in the absolute transformation of our markets.”
“It makes it more simple and it gives people the clarity that they need to have the confidence to make decisions and to have the confidence to plan going forward. This is important because standard-setting organisations have a vital role in supporting the integrity of our markets. Their work helps ensure that the information organisations publish is reliable, consistent and meaningful—the kind of information investors, regulators and the public can genuinely rely on. When standards are strong and when they're clearly applied, they lift confidence across that whole system and they encourage investment. They encourage people to back our economy and to back Australia.”
“This new structure is designed to respond more quickly to emerging issues, support better consistency and make the system more seamless. ERA will combine the standard-setting responsibilities that currently sit across three separate bodies: the Australian Accounting Standards Board, the Auditing and Assurance Standards Board and the Financial Reporting Council. By consolidating these functions into a single organisation, ERA will oversee the full suite of reporting standards, accounting, auditing and assurance as well as sustainability. This unified approach means that, instead of navigating multiple different frameworks or interpreting requirements across a number of different agencies, stakeholders will have that one coordinated source of guidance and decision-making.”
“Put simply, this legislation introduces a more flexible and a more accountable way of setting standards by bringing existing standard-setting entities together under a single streamlined body, External Reporting Australia, or ERA. For some, financial reporting system reform might seem a bit bland. It might not be the thing that they read about at night before they go to bed—not me! I can tell you that making sure something that can seem complex has clarity, is holistic and is simple for people to understand is what will drive confidence in the business community and what will drive confidence in the market. Instead of navigating multiple agencies and processes, ERA creates a clear one-stop shop for guidance, oversight and decision-making.”
“If you are thinking about investing in new technology, advanced manufacturing—things that will give you a lift to make your business more productive—it's confidence that will allow you to do that too. If you're thinking about hiring more people to expand your business, it's confidence that will get you there. When trust is strong, participation grows. We know that. That collective confidence is what helps drive a resilient and thriving economy that benefits everyone. The Treasury Laws Amendment (Financial Reporting System Reform) Bill 2026 builds on this foundation to deliver the biggest reform to Australia's financial reporting standards-setting institutions in over two decades.”
“Strong economies have a foundation of trust—trust in our government and trust in financial institutions. Trust is how decisions are made—trust that the leadership is accountable and trust that the numbers are correct. After all, the integrity of our markets is crucially important. When people believe the system is fair, when people believe that the system is transparent and operating as it should be, they're far more willing to take part in it. Confidence in the financial system encourages individuals and businesses to invest. Confidence gives people the opportunity to try new ideas and to make long-term plans with certainty. Because if you're thinking about taking the plunge to start a new business—to write out the plan, to put in the loan and to make it happen—it's confidence that will give you the gusto to do it.”
“The shadow Treasurer said: … It's not my choice that women have children; it's genetic. It is not just revealing about his attitude towards women; it is also revealing about and is an indictment on his fundamental economic credentials to be an alternative treasurer of this nation.”
“We are the dominant force in controlling consumer spending. When we participate in the workforce, we drive productivity and competitiveness. And when our full potential is unlocked, the economic impact is unreal, in the tens and tens of billions of dollars. We are women, and, if the economy matters to you, then women matter to you. As we approach International Women's Day, it's worth reflecting on the achievements of the Albanese Labor government in this space—expanded paid parental leave, including superannuation; tax cuts that leave 90 per cent of women better off; and gender pay gap reporting, which was released yesterday and shows that gap closing. These are not nice-to-haves; they are key and core drivers of our nation's economic outcomes. Yesterday we were reminded of the shadow Treasurer's comments about women.”
“These improvements bolster trust and reflect a modern Australian workplace. For this reason, I commend the bill to the House.”
“It also emphasises a focus on continually strengthening the capability and performance of boards and public bodies. These standards apply broadly, across appointments to Commonwealth public offices, including secretaries, agency heads, statutory officers and board members. The breadth of these reforms illustrates Labor's commitment to restoring trust and faith in government institutions. You need only to think about robodebt, which the Prime Minister described as 'a gross betrayal and a human tragedy' to understand why this was necessary. The Commonwealth Entities Legislation Amendment Bill 2026 continues this record of progress. Through this ongoing work to strengthen how appointments are made, the government is reinforcing its commitment to upholding public confidence and safeguarding trust in our national institutions.”
“A division having been called in the House of Representatives— Sitting suspended from 17:13 to 17:32 This provides a clear set of expectations and guidance to strengthen transparent, capability based selection for Commonwealth public roles. It outlines the standards ministers must follow when making appointments, ensuring decisions are grounded in merit and aligned with effective governance and positive outcomes for the Australian public. Under the framework, ministers are accountable for appointments within their portfolios and are expected to be open about how those decisions are made. Appointees should reflect the diversity of the Australian community. They should look like the communities that we represent. Ministers are encouraged to work closely with their departments when designing and carrying out recruitment processes.”
“By embedding these principles into the framework, we ensured the APS operates with impartiality and a strong service ethos and that it remains accountable, respectful and grounded in the highest ethical standards. In October 2024, Labor replaced the Administrative Appeals Tribunal with the ART. This was necessary to introduce a more open, merit driven approach to appointments. The ART also benefited from stable long-term funding to ensure effective ongoing operation. There was a focus on efficiency and clearing the significant backlog of cases with streamlined procedures, improved workflows and strengthened support services. In December last year, the government released the Australian Government Appointments Framework.”
“Later that same year, Labor established the Parliamentary Workplace Support Service, PWSS, as an independent statutory agency through the Parliamentary Workplace Support Service Act 2023. This implemented recommendation 11 of the Set the standard independent review into Commonwealth parliamentary workplaces. The act provides for a dedicated human resource function to support parliamentarians and support safer and more respectful Commonwealth parliamentary workplaces. In 2024, the Albanese Labor government drove through reforms of the Australian Public Service, designed to reinforce the expectation that the APS continues to strengthen its skills, continues to deepen its institutional knowledge and continues to stay focused on serving the public interest both now and into the future.”
“They strengthen accountability while ensuring the integrity of the offices is supported by clear and contemporary safeguards. The bill also amends the tenure of the first and second parliamentary counsel office holders from seven to five years. This brings these positions in line with the statutory office holders at other Commonwealth entities, such as the Administrative Review Tribunal. Labor promised to return integrity, honesty and accountability to government, and our progress has been substantial already. This is another important part of that puzzle. The National Anti-Corruption Commission was established in July 2023, an independent statutory entity empowered to investigate serious or systemic corruption involving Commonwealth public officials.”
“The current provisions do not provide a way to address these types of issues, leaving a gap between community expectations and what the existing legislation allows. Under the amended framework, a broader range of grounds for ending an appointment would be introduced. These include unsatisfactory performance, conviction for an indictable offence, bankruptcy, extended or unexplained absence from duties and undertaking paid work outside their role without approval. These changes ensure that the same basic expectations applied to employees across Australia also apply to these very senior statutory roles. Together, these updates would bring the Parliamentary Counsel Act 1970 in line with what most Australians would view as fair and reasonable minimum standards in a modern workplace.”
“In the Attorney-General's portfolio, this bill affects the Office of Parliamentary Counsel, making amendments that concern the appointment duration and the termination of the first and second parliamentary counsel. At present, these office holders can only be removed by the Governor-General and only in a very narrow set of circumstances. This limited approach no longer reflects contemporary expectations for workplace behaviour or for workplace accountability. Modern workplaces require clearer and more comprehensive standards, particularly when it comes to dealing with repeated bullying, harassment or other forms of unacceptable conduct. Quite simply, modern workplaces—regardless of whether you are in the private sector, the public sector or an agency—should uphold those values and meet the expectations that Australians deserve to see.”
“This power could be used where there are reasonable concerns that allowing the office holder to continue might pose a risk to staff, undermine the agency's reputation or compromise the interests of the statutory authority. The bill also includes sensible but more minor modernising updates. One example is the proposal to reduce the ACIAR CEO's term from seven years to the more common five-year appointed period, aligning it with modern public sector practice. The changes in this bill will amend the Australian Centre for International Agricultural Research Act, the Nuclear Non-Proliferation (Safeguards) Act, and the Australian Trade and Investment Commission Act.”
“The provisions for ASNO are built different—they're a bit different. ASNO operates as a nuclear regulator, and maintaining its regulatory independence is absolutely essential. This independence may require limits on when and how officials can be removed from their positions. As a result, for ASNO, the amendments mean that the statutory office holder could be held accountable for serious misconduct but only where that misconduct has been formally established through the existing statutory assessment process. The bill does not introduce a new ground for termination based on unsatisfactory performance. A new provision, which will apply to each of these agencies, will be giving the responsible minister the capacity to suspend an office holder from their duties.”
“It expands the grounds on which a statutory officer may be terminated, and, for the very first time, it provides a mechanism to suspend an office holder from their duties when serious concerns arise. These amendments will ensure that the office holders can be held to account for serious misconduct or for unsatisfactory performance. It's what these agencies deserve, and it's what Australians deserve when they think about senior office holders of the government. In cases where behaviour or performance falls well below the expected standard, termination would be available as an appropriate consequence. The strengthened termination provisions would only apply from the date the bill commences. They are not intended to capture or reassess any conduct that occurred before the new framework comes into effect.”
“This bill updates the appointment arrangements across the Foreign Affairs and Trade, and Attorney-General portfolios. It will apply to the statutory office holders of the following three agencies within Foreign Affairs and Trade: firstly, the CEO of the Australian Centre for International Agricultural Research; secondly, the CEO of the Australian Trade and Investment Commission, Austrade; and, finally, the Director-General of the Australian Safeguards and Non-Proliferation Office, known as ASNO. Currently, there are limited provisions for ending an appointment when conduct or performance falls short. That's why this bill introduces a set of changes designed to make the rules around ending a statutory appointment clearer and more responsive.”
“With responsibilities of this scale, Australians rightly expect these roles to be carried out with integrity, with good judgement, with accountability and that strong commitment to the public interest and, indeed, in doing so, our national interest. Because of that, it's crucial that the systems we use to appoint and hold these office holders accountable reflect the workplace standards Australians expect in 2026. Community expectations are evolving, shaped by modern workplace culture, shaped by stronger calls for transparency and a focus on ethical leadership. Our frameworks need to keep pace with these expectations so we can maintain that trust, so we can support effective governance and ensure those in these roles are equipped to be recognised for the important work that they do, day in and day out.”
“The same principles that strengthen non-government workplaces, that keep them fair, safe and trustworthy, are just as essential, if not more so, in the institutions that serve our communities and uphold the public's confidence. The Commonwealth Entities Legislation Amendment Bill 2026 highlights the Albanese Labor government's commitment to improving the integrity and accountability of appointments of statutory office holders across the Commonwealth. Statutory office holders play an important role in serving the Australian community. They're given significant authority. They lead organisations, they make key decisions and they approve the use of public funds.”
“We've seen that in the introduction of such seminal reforms like superannuation, making sure that everyday working people have the ability to put a nest egg away and make sure that they are set up for their future. We saw it in workplace legislation to make working people safer, and we've seen it in the practical real wage increase for working people. This is true for the range of workplaces I mentioned, and it's also true for organisations led by statutory office holders across the Commonwealth. In fact, the stakes are even higher in the public sector. Government institutions operate under a unique level of scrutiny and a unique level of responsibility.”
“It relies on clear expectations and the willingness to own results, whether positive or negative. It's not about blame; it's about learning, improving and maintaining transparency. Together, integrity, accountability and leadership create workplaces that function smoothly, build trust and deliver better outcomes. They strengthen culture, guide behaviour and form the foundation of organisations that are respected by the employees, the community and customers. When it comes to workplaces, Labor has always been the driver of better and safer workplaces, of fairer workplaces, of workplaces where everyday Australians are treated right.”
“In most workplaces, whether it's a small business—it doesn't matter what type, like manufacturing, retail or hospitality—whether it's a busy office, whether it's an aged-care home where people are caring for our oldest Australians, whether it's a manufacturing facility or whether it's a large corporate organisation, the integrity and accountability of the leadership are the guiding principles that determine how people feel. They determine how decisions are made, and they determine how smoothly things operate. Integrity in the workplace means acting ethically. It means acting honestly. It means being honest in communication and making decisions that align with organisational values. Accountability means taking responsibility for actions, decisions and outcomes.”
“It is now time for those opposite to put their support behind a fairer super system, and I urge them to vote for Australians on low incomes, not to vote for bigger tax breaks for the few who have millions in their super funds.”
“The ATO estimates that $5.2 billion of workers' super was never paid in 2021-22 alone. That's roughly $100 million every single week that employees earned but didn't receive. Under the new payday super laws passed last year, superannuation must be paid at the same time as wages because that's what they are. This ensures workers can track their super more easily and spot missing payments early. Unpaid super disproportionately harms younger workers and those in casual or insecure work. Supporting people who are struggling to build retirement savings helps make our superannuation system more fair. Deputy Speaker, I'd like to leave you with a statistic that demonstrates the purpose of this bill. There are 14 times as many people who will benefit from the changes to the LISTO as there are people who have over $3 million in super.”
“Paid parental leave will reach a total of 26 weeks by the end of this very year, and, in July last year, the Albanese Labor government began paying superannuation on publicly funded paid parental leave. This reform tackled a longstanding inequality where women's earnings fall, on average, by about 55 per cent in the first five years of raising children. Paying superannuation on parental leave helps reduce that impact. Once parental leave reaches 26 weeks, a participant will accumulate about $3,000 in superannuation contributions during their leave period. This makes a difference. For the first time, it drives equality for women in the superannuation space. I've recently spoken about the introduction of payday super. This reform is aimed squarely at fixing the ongoing problem of unpaid superannuation.”
“We've made no secret of our agenda to strengthen the superannuation system, and I'm proud of this government's accomplishments when it comes to superannuation and when it comes to protecting the retirement and future of all older Australians. We've defined the purpose of superannuation in law, ensuring it is clear and protected. To be clear, it is to save money for a dignified retirement, supported by government in a fair and sustainable way. It is not a reserve of funds to be dipped into whenever the coalition feels like it. We've bolstered the system with a profound social reform: the introduction of superannuation on paid parental leave.”
“They will then report that calculated amount to the ATO, ensuring the reporting process aligns with the intent and requirements that are set out in this legislation before us today. It's important to note that these changes will apply to less than 0.5 per cent of Australians who hold superannuation accounts in 2026-27, and the higher rate of tax for accounts with balances over $10 million will only affect less than 0.1 per cent of Australians with super accounts. What these changes do, though, is ensure that the administration of the superannuation system is aligned with the legislated objective of superannuation, and this is to enable savings for a dignified retirement in a way that is both fair and sustainable.”
“Both the $3 million and $10 million balance thresholds will be indexed to the consumer price index over time so that they can continue to align with the transfer balance cap, and this ensures that these thresholds remain consistent and maintain their intended purpose as the system evolves and as time goes on. Earnings will be calculated using established income tax principles and will be based on realised gains, providing a clear and familiar framework for determining taxable amounts. The policy will also extend to members of defined benefit schemes with equivalent arrangements applied so that these members are treated fairly and so that they're treated consistently with those in standard superannuation funds. Superannuation funds will be responsible for working out how much of their earnings relate to any member covered by these rules.”
“This bill better targets the super tax concessions available to individuals who have superannuation balances bigger than $3 million. The bill also reflects two years of feedback on the Albanese Labor government's original design for better-targeted super concessions, and here's how it will work. From 2026-27 onwards, earnings on superannuation balances between $3 million and $10 million will be taxed at a rate of up to 30 per cent. For those with balances exceeding $10 million, the tax rate applied to earnings will increase to up to 40 per cent. Importantly, there will be no change to how earnings on superannuation balances below $3 million are taxed. These earnings will continue to be subject to a rate of up to 15 per cent, maintaining existing settings for the vast majority of Australians.”
“The problem is that these tax advantages are not shared evenly and not shared where people need them the most. A large share of the benefits flows to a relatively small group of people with very high super balances—balances that are far above what anyone would reasonably need for a comfortable retirement. In fact, about 38 per cent of all super earnings concessions go to the top 10 per cent of income earners. More than half of these—54 per cent—benefit the top 20 per cent. This means that the system is heavily skewed towards those already in the highest income brackets rather than supporting Australians more broadly. Labor governments are committed to standing up for working Australians, and a major part of that commitment is making sure our superannuation system remains fair and financially sustainable for everyone in our community.”
“The boost to the LISTO will directly benefit over 100,000 sales assistants, 50,000 administrative workers and over 50,000 workers in our care economy, the hardworking people who support elderly Australians and people with a disability. Just think about those numbers. Over three million Australians will have a boost to their super and a boost to their retirement, comfort and security as they go forward. This is a reform that Labor is justly proud of, because it builds on everything we have done in the superannuation space to date. The other part of this bill concerns necessary and responsible changes to superannuation concessions—necessary because each year the budget forgoes more than $60 billion in revenue through superannuation tax concessions. By the 2040s, these concessions are projected to cost even more than the age pension.”
“For many, it is a life-changing boost. It's worth taking a moment to look at who will benefit from this boost to the LISTO. In 2027-28, over 770,000 additional Australian workers will be eligible for the LISTO. This is a big change, and it will have a big impact for those who need it most at a time when we know so many Australians are doing it tough. And 490,000 Australians who are currently eligible will receive a higher LISTO payment. Where this is particularly significant is in the number of Australian women who will benefit. Of the 3.1 million Australians who will be eligible for LISTO under this bill, around 60 per cent are women. Young people will also benefit, with around 500,000 people under the age of 30 receiving the payment.”
“The LISTO helps fix that by giving eligible low-income earners a tax refund on their super contributions, ensuring they don't end up paying more tax inside their super than they would if they simply received the same amount in their pay packet. The Albanese Labor government is increasing the LISTO by $310 to $810. We're also increasing the eligibility threshold from $37,000 to $45,000. These changes will come into effect from 1 July 2027, aligning with Labor's third round of tax cuts for every Australian. Depending on their income and how much they contribute, workers will see up to an extra $810 added to their super each year. The average increase to the LISTO will be $410. Over the course of a person's working life, this added support can translate into roughly $15,000 more in retirement savings—a significant boost.”