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Chalmers Defers $3 Million Super Bill as Tax Debate Shifts to Future Budgets

The government will use insights from last week’s reform roundtable to shape the next three budgets.

Overview

  • Treasurer Jim Chalmers said retirees will continue to receive concessional tax treatment on superannuation for now.
  • Legislation to tax earnings on super balances above $3 million will not be introduced in the immediate sitting fortnight but will return later.
  • Chalmers signalled openness to tax changes that encourage business investment, including potential corporate adjustments, contingent on affordability.
  • The roundtable advanced near‑term regulatory priorities such as cutting red tape, speeding housing approvals and progressing a sustainable road‑user charging system.
  • Intergenerational fairness dominated the discussions, with super concessions cited as a key inequality driver, and Prime Minister Anthony Albanese left the door open to future reform while prioritising the current policy agenda.