Labor has dramatically overhauled its $3m super tax legislation, and the policy is weaker for it. It’s still pushing in the right direction, just not as hard.

None of this bodes well for Jim Chalmers ’ lofty vision of a boldly reforming Labor party in those heady early days after May’s landslide election victory.

As Brendan Coates, the director of the Grattan Institute’s housing and economic security program, said: “I am less confident in broader super tax reform today than I was yesterday.”

There was good news for millions of Australians who will get an overdue boost to the low income super tax offset, starting from mid-2027.

Announcing the changes, the treasurer said “this is a fairer superannuation system from top to bottom”, adding that “14 times more people will benefit from t

See Full Page