Greens strike conciliatory tone on super tax changes
The Greens are "absolutely ready" to work with Labor to make proposed changes to superannuation, acknowledging the mandate voters gave the Albanese government at the election.
Labor is looking to double the tax rate of super balances above $3 million to 30 per cent, in a bid to limit the number of wealthy people using their balances for tax deductions rather than their retirements.
The coalition has vowed to oppose the changes, labelling them unfair.
With the government lacking a majority in the Senate, it needs the Greens or the coalition to pass legislation through the parliament.
Greens treasury spokesman Nick McKim said he expected to begin negotiations with Treasurer Jim Chalmers before the new parliament returns at the end of July.
"We are absolutely ready to work with with the treasurer and with Labor to try and move the superannuation system a little bit back towards what its original intent was when it was set up," he told ABC's RN on Monday.
"We want the system to be as fair and as strong as it can be in terms of providing for a dignified retirement for working Australians, and that'll be our aim."
Senator McKim said Dr Chalmers was a "re-elected treasurer in a re-elected government" which had taken the proposal to the May poll.
Striking a more conciliatory tone, the Greens have previously been criticised for delaying Labor's housing bills during a crisis.
The minor party lost three of its four lower house seats to Labor in a near wipe-out in the House of Representatives.
Former Greens leader Adam Bandt also lost his seat after 15 years in parliament.
The vast majority of Australians are unlikely to feel the impact of Labor's proposal, with the median super balance for 60 to 64-year-olds sitting at about $200,000 for men and $150,000 for women.
Deputy Nationals leader Kevin Hogan said the coalition remained strongly opposed to taxing unrealised gains.
"I don't know of many examples around the world that do that, and it's very damaging," he told ABC's RN.
"The non indexation of that makes an exceptionally penalising policy as well."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sydney Morning Herald
26 minutes ago
- Sydney Morning Herald
‘We have a mandate to act': PM throws open doors to bolder agenda
Prime Minister Anthony Albanese has thrown open the doors to a more daring economic reform agenda, convening a summit later this year to kickstart Australia's stuttering economy. As he set guard rails for his upcoming negotiation with US President Donald Trump on tariffs, Albanese revealed he would bring union and business bosses together in August to chart a path to a more prosperous society after years of flatlining living standards and productivity. The government did not speak of the roundtable before its election win, the size of which has spurred calls from economists, think tanks and some MPs for Labor to consider broader reform to tackle issues such as reducing the reliance on income taxes. 'The commitments the Australian people voted for in May are the foundation of our mandate, they are not the limits of our responsibilities or our vision,' Albanese said in his first major speech since his generational 94-seat win. 'We want to build the broadest possible base of support for further economic reform … Our government has secured a mandate to act.' Loading Holding the economic summit, as Labor did in its first term on industrial relations policy, could hand Albanese and Treasurer Jim Chalmers more authority to pursue bolder policies than those it took to the election. Chalmers has been emphasising the productivity problem since the election, while Housing Minister Clare O'Neil and assistant minister for productivity Andrew Leigh have both recently taken aim at red tape, suggesting a new focus on growth after facing criticism for allegedly over-regulating and over-spending last term. Labor ministers have stressed their policies on childcare, school funding, green energy and housing were already ambitious, but they have faced calls to examine major issues such as the GST, property taxes and the company tax rate.
The Age
26 minutes ago
- The Age
‘We have a mandate to act': PM throws open doors to bolder agenda
Prime Minister Anthony Albanese has thrown open the doors to a more daring economic reform agenda, convening a summit later this year to kickstart Australia's stuttering economy. As he set guard rails for his upcoming negotiation with US President Donald Trump on tariffs, Albanese revealed he would bring union and business bosses together in August to chart a path to a more prosperous society after years of flatlining living standards and productivity. The government did not speak of the roundtable before its election win, the size of which has spurred calls from economists, think tanks and some MPs for Labor to consider broader reform to tackle issues such as reducing the reliance on income taxes. 'The commitments the Australian people voted for in May are the foundation of our mandate, they are not the limits of our responsibilities or our vision,' Albanese said in his first major speech since his generational 94-seat win. 'We want to build the broadest possible base of support for further economic reform … Our government has secured a mandate to act.' Loading Holding the economic summit, as Labor did in its first term on industrial relations policy, could hand Albanese and Treasurer Jim Chalmers more authority to pursue bolder policies than those it took to the election. Chalmers has been emphasising the productivity problem since the election, while Housing Minister Clare O'Neil and assistant minister for productivity Andrew Leigh have both recently taken aim at red tape, suggesting a new focus on growth after facing criticism for allegedly over-regulating and over-spending last term. Labor ministers have stressed their policies on childcare, school funding, green energy and housing were already ambitious, but they have faced calls to examine major issues such as the GST, property taxes and the company tax rate.
Sky News AU
2 hours ago
- Sky News AU
Yarra Mayor Stephen Jolly plots council revolt over Fire Services Levy, accuses Vic Premier of getting councils to ‘do her dirty work'
A local mayor from Melbourne's inner city is plotting a council revolt against the Allan government's controversial Emergency Services Levy. The new levy has sparked outrage in regional communities, with critics claiming it will see some property owners pay 150 per cent more than under the previous fire services levy. Property owners across the states will have to pay the levy through local council rates, and many regional councils are reluctant to collect the tax, worrying residents will simply refuse to pay. They have been joined by Yarra Mayor Stephen Jolly, who is backing a motion for his inner city council to stand up to the state government. The motion, to be debated next week, seeks legal advice about whether the council can refuse to collect the tax or mount a legal challenge against it. It also calls for Yarra Council – which covers the inner city suburbs such as Richmond, Collingwood, and Fitzroy - to 'build a mass alliance' against the levy. 'We're trying to get a bit of a bandwagon here, so that the council to actually say to the government, no, we're not going to collect it,' Mr Jolly told 3AW on Tuesday, adding that he had recently spoken to the mayor of Hobsons Bay. "Because… somebody needs to stand up to this Premier, and if it has to be me, well, we'll do it.' The City of Yarra Mayor hit out at Victorian Premier Jacinta Allan over the levy, accusing the Labor leader of attempting to get local councils to 'do her dirty work for her'. 'I think this fire service levy is an absolute disgrace, but have some balls. If you're going to bring it in, collect it yourself,' he said. Mr Jolly was previously elected as a Socialist Party councillor and ran as the Victorian Socialists' lead candidate in the 2018 state election. However in 2024 the long-time Yarra councillor ran with a group of independents called 'Yarra for all' and has repeatedly taken aim at the woke policies of the previously Greens-dominated council. Speaking to 3AW's Russell Howcroft and Ross Stevenson, Mayor Jolly said the new Emergency Services Levy would undo the work the current Yarra Council had done to reduce the cost of living for ratepayers. 'We've done all this great work in the last six months cleaning up from the greens, fixing up the council area, fixing up the budget, and having a rate bill that people can afford to pay, and they're messing up this work because we've now got to add to our rate bill the fire services levy fund,' he said. 'It's nothing to do with us. We're collecting it for them, and if we don't collect it, they're telling us that we have to pay them anyway. 'Your average person on the street is going to pick that up and go, 'Oh, that Stephen Jolly is full of nonsense. He's on 3AW banging on about how they turned the ship around, and here we have a rate spill bigger than we've ever received. 'And they're not going to read the small print that it's not us that's collecting it, it's for Jacinta.' Mr Jolly added that combined with the government's other reforms, the Emergency Services Levy raised questions about what the Victorian Labor Party thought councils were for. 'They're making us collect their unpopular taxes. They're telling developers they don't have to pay developer contribution if the building build to rent,' he said. 'So what's the bloody point of councils at all? I mean, be done with it. Just cancel it if that's what you think.' The Allan government has defended its new Emergency Services Levy by pointing out that all funds raised will be used to pay for the state's emergency services. And on Monday, a government spokesperson told the Herald Sun that local councils had for years been collecting the previous fire services levy, which was introduced by the former Liberal government.
