Labor secures easier Senate with third Victorian spot to Michelle Ananda-Rajah

Mercury

5 days ago

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The new makeup of the Senate will nearly guarantee the passage of Labor's controversial proposed 15 per cent tax on superannuation balances.
While super balances are currently taxed at a lowered rate of 15 per cent, Labor's touted reforms would increase the levy to 30 per cent on balances over $3m.
This would affect about 80,000, or about 0.5 per cent of Australians, with Treasury figures indicating the cohort to increase to 1.2 million Australians without indexation.
Critics of the plan state the plan could hit unrealised profits and affect people who hold farmland or commercial properties in their funds, however Jim Chalmers has said the plan would merely make 'generous concessions slightly less generous'.
The Greens have backed the policy, however, say they want the threshold lowered to $2m with an annual indexation clause to keep up with inflation.
Labor's ability to pass the legislation has been bolstered with the government guaranteed at least 28 seats in the Senate.
This comes after the Australian Electoral Commission confirmed on Wednesday that Michelle Ananda-Rajah, who previously held the abolished lower house seat of Higgins, won the hard to win third spot on Labor's Victorian ticket.
This means they will be able to secure legislation through the upper house with the support of the Greens, which are likely to hold 11 seats.
As it stands, the Australian Electoral Commission has yet to publish the results for the six Senate seats in NSW, Queensland and Western Australia.
Labor's proposed super tax will be a major test of the Prime Minister's ability to work with the minor party.
Manager of Greens business in the Senate Sarah Hanson-Young said the Green's position to lower the threshold to $2m, which would be increased through indexation, had been made 'very clear' in the last parliament.
'This is a new parliament, and of course, we will be open, as we always are, to talk and negotiate with the government,' she said.
'Our position has been clear for a number of months, and we'll keep talking to the government if and when the government wants to.'
Greens senator Sarah Hanson-Young said that while the party still backed a $2m threshold, it was willing to work with the government on its tax plan. Picture: NewsWire / Martin Ollman
However she wouldn't directly comment on whether the new Senate numbers will guarantee the passage of the tax in some form.
'We will always take a constructive approach, improve where we can, push where the community expects us to, and hold the government to account, whether it's over this piece of legislation or others,' she continued.
'We have a job to do in the Senate, and that is to get outcomes and to hold the government of the day accountable, and we will continue to do that.'
Prime Minister Anthony Albanese can now pass legislation through the Senate with only the support of the Greens. Picture: NewsWire / Martin Ollman
While Greens Leader Larissa Water said that while her party has not discussed the issue at a party room meeting, she was 'hopeful' of a good outcome, and told The Australian her party was 'prepared to consider it'.
Going into the federal election, Senator Waters' predecessor Adam Bandt pledged to put five key demands to Mr Albanese if Labor fell short of a majority at the federal election.
They included blocking any new coal or gas projects, expanding Medicare to cover dental health, reforming negative gearing and capital gains tax, ending logging in native forests, and rolling out free universal early childhood education.
Mr Bandt was swept up in Labor's landslide win along with Queensland one-termers Stephen Bates and Max Chandler-Mather.
Despite being reduced to just one seat in the lower house, the Greens have sought to frame the election as a win because they are 'now in sole balance of power' in the Senate.
Greens leader Larissa Waters has called on Labor 'to be bold'. Picture: Dan Peled / NewsWire
It is unclear how the Greens will use that power, but Senator Waters called on Labor 'to be bold' in her first remarks after winning the party leadership.
'The issues that people are facing are getting harder and are getting worse,' she said.
'We need strong action on the climate, on nature, on the housing crisis, on the cost of living crisis, and we need our parliament to work to actually meet the needs of the people that it's been elected to represent.'
Originally published as Labor secures easy passage of $3m super tax with third Senate spot in Victoria