Low-Income Superannuation Tax Offset

Cook supported the reforms, noting that the LISTO had been frozen for eight years under the previous government. Cook argued that the changes would help 1.3 million Australians, providing an average increase of $410, helping to address the gender super gap. Cook highlighted that women often retire with less super due to career breaks and part-time work, and stated that the reforms would help ensure financial security for women in aged care and early education sectors.

Boele welcomed the reforms, stating that the LISTO had not changed since 2012 and was no longer fit for purpose due to inflation. Boele supported the funding mechanism, which involved reducing tax concessions on super balances over $3 million, but raised concerns that the threshold was not indexed. Boele argued that indexation would prevent future legislative delays and noted that the government had listened to crossbench concerns regarding unrealised capital gains.

Lim supported the motion, emphasising that the reforms would benefit low-income workers, many of whom are women or young people. Lim cited data showing that the gender super gap in Tangney was the worst in Western Australia, with women's median super balances significantly lower than men's. Lim also highlighted the government's introduction of superannuation on paid parental leave and payday super laws as complementary measures to improve retirement outcomes.