The Albanese Government’s reforms mean will more super for workers on low incomes and more sustainable tax breaks for people with the biggest balances. The Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026 passed the Senate on Tuesday without amendment.

Federal Member for Blair Shayne Neumann said the legislation would increase the Low-Income Superannuation Tax Offset (LISTO) and make a number of important changes to maintain tax concessions, but better target them for large balances over $3 million.

“This is great news for workers in Blair, who will receive a boost of up to $810 per year to their superannuation account depending on their income and contributions, with an average increase in the LISTO payment of $395 for affected workers.

“Workers could receive a potential benefit at retirement of around $15,000 depending on an individual’s income over their career.

“The reforms will boost the super of more than 8,300 workers in my electorate, with more than 4,600 women and around 3,500 younger workers among the biggest beneficiaries, and it will give them a more secure retirement.

“This includes thousands disability and aged care workers, retail and hospitality staff, early childhood educators, and nurses.”

Mr Neumann said the changes were part of the Government’s efforts to help workers earn more, keep more of what they earn and retire with more, while also strengthening Australia’s world class superannuation system.

“We’re making superannuation tax concessions fairer and more sustainable by reducing tax breaks for people with balances over $3 million. This will continue to affect less than 0.5 per cent of all Australians in 2026-27,” he said.

“Labor built the superannuation system, and this legislation builds on the Albanese Government’s reforms, including lifting the Superannuation Guarantee to 12 per cent, paying super on paid parental leave and legislating payday super to start on 1 July this year.”