Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026

Stage by Stage

Summaries in reported speech - not a transcript. In date order, both chambers.

1. Wednesday 11 February 2026 · House of Representatives

   Second Reading

   The Treasurer introduced legislation to reform superannuation tax concessions and increase support for low-income earners. The bill proposes raising the Low Income Super Tax Offset and increasing taxes on large super balances. The debate was adjourned after the opening speech, with no other members speaking.

   Outcome: Debate adjourned.

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2. Tuesday 3 March 2026 · House of Representatives

   Second Reading

   The debate centered on superannuation tax reforms, including adjustments to the low-income superannuation tax offset and tax rates for large balances. Government members Allegra Spender and Libby Coker supported the legislation, arguing it improved fairness and funded income tax cuts for working-age Australians. Opposition members criticized previous proposals regarding unrealised capital gains but acknowledged the revised bill addressed concerns, while crossbench members endorsed the final amendments. The discussion emphasized intergenerational equity and the specific mechanics of the tax changes.

   Outcome: The debate was interrupted before a vote could be recorded.

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3. Tuesday 3 March 2026 · House of Representatives

   Second Reading

   The debate centred on proposed changes to superannuation tax concessions, specifically introducing higher tax rates on earnings from balances exceeding $3 million and $10 million, alongside increases to the low-income superannuation tax offset. The opposition opposed the bill, arguing it represented a breach of election promises and targeted self-managed superannuation funds to fund government spending. The government supported the legislation, framing it as a necessary recalibration to ensure the system's long-term sustainability and equity, while protecting the majority of Australians from tax changes.

   Outcome: The amendment moved by Tim Wilson was not recorded as passed in the provided transcript excerpt, and the final vote result is not stated.

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4. Thursday 5 March 2026 · House of Representatives

   Consideration in Detail

   The debate focused on two amendments to the superannuation bill. The first, moved by Terry Young, sought to exempt existing superannuation interests from new tax rules, arguing that changing rules retrospectively undermined financial certainty. The second, moved by Allegra Spender, proposed a one-off amnesty allowing individuals with high balances to withdraw funds up to the threshold, addressing concerns about locked-in assets under changed tax rates. Assistant Treasurer Daniel Mulino opposed both amendments, citing policy intent and constitutional issues. Both amendments were defeated in divisions.

   Outcome: Both amendments were defeated in divisions, with the first failing 37-92 and the second failing 9-83.

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5. Thursday 5 March 2026 · House of Representatives

   Second Reading
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6. Thursday 5 March 2026 · House of Representatives

   Third Reading
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7. Tuesday 10 March 2026 · Senate

   First Reading
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8. Tuesday 10 March 2026 · Senate

   Limitation of Debate
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9. Tuesday 10 March 2026 · Senate

   Second Reading

   The debate focused on reforms to superannuation tax concessions, specifically increasing the low-income superannuation tax offset and raising taxes on high-balance accounts exceeding $3 million. The government argued these changes would improve fairness and sustainability, particularly benefiting women and low-paid workers, while the opposition criticised the legislation as a breach of election promises and a response to fiscal mismanagement. Independent and Greens senators supported the bill, noting improvements over the original proposal, though some raised concerns about defined benefit schemes and the lack of committee inquiry. The proceedings concluded with the bills being guillotined, which limited further scrutiny.

   Outcome: The debate was guillotined, and the bills were not passed in this part of the transcript.

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