STATEMENT: Albanese Government heeds Crossbench Concerns on Super Tax Reform
October 13, 2025
Comments attributable to Zali Steggall OAM MP:
"I welcome Treasurer Jim Chalmers’ announcement that he has taken on board the feedback I and other crossbenchers conveyed on superannuation tax reform – particularly regarding indexation and the proposal to tax unrealised gains.
Among the changes announced today, the proposed thresholds at which tax on earnings will be doubled will now be indexed to inflation, and unrealised capital gains will now be excluded from the changes.
Last year, I and other crossbenchers outlined our concerns in a joint letter to the Treasurer, demanding he revise the proposed laws to make them simpler and fairer.
At a roundtable I hosted on June 17, I heard concerns from local constituents, including tech investors, who said the government's proposed changes would increase their costs, add unnecessary complexity and dampen investment.
I accepted the broad changes proposed by the government. However, I felt strongly that taxing unrealised gains was deeply problematic and could undermine confidence in Australia’s superannuation system.
Today’s announcement by the government shows crossbench advocacy matters. I thank the government for acting on our concerns.
And as I’ve said previously, the government should not be pursuing individuals for more tax while giving huge gas companies a free ride. The government should now look at other tax opportunities such as strengthening the Petroleum Resource Rent Tax to ensure polluting companies pay their fair share for Australia’s resources."
Do you like this page?