HouseDivision 4 · 5 Mar 2026

Superannuation (Building a Stronger and Fairer Super System) Imposition Bill 2026 - Second Reading - Agree with bill's main idea

Passed95 aye · 35 no

What this vote was about

The majority voted in favour of a motion to agree with the bill's main idea. In parliamentary jargon, they voted to read the bill for a second time. This means they can now discuss it in greater detail.

What is the bill's main idea?

This bill was introduced alongside the Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026. According to the bills digest, which is a nonpartisan document prepared by the parliamentary library:

Schedules 1-3 of the Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026 amend several Commonwealth statutes to reduce the tax concessions available to individuals with a total superannuation balance of more than $3 million. A further reduction would apply to individuals with a total balance of more than $10 million. The measure would apply from income years starting on 1 July 2026.

Schedule 4 amends the low income super tax offset (LISTO) by increasing the income threshold from $37,000 to $45,000 and raising the maximum LISTO payment from $500 to $810. These amendments would apply from 1 July 2027.

The Superannuation (Building a Stronger and Fairer Super System) Imposition Bill 2026 implements the measure in Schedules 1‑3. It is a separate Bill for constitutional reasons.

The Government previously attempted to reduce tax concessions available to individuals with a total superannuation balance of more than $3 million through the Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023 and the Superannuation (Better Targeted Superannuation Concessions) Imposition Bill 2023 (the 2023 Bills). These Bills lapsed at the end of the 47th Parliament.

The measure proposed in the current Bills differs in some respects from the previous Bills, including through proposing a further reduction of tax concessions available to individuals with total superannuation balances exceeding $10 million; by providing for both the $3 million and $10 million thresholds to be indexed to the Consumer Price Index (CPI); and removing the proposal to tax notional capital gains and losses.

While regarding the new Bills as improving on the 2023 Bills, some professional bodies and self-managed superannuation fund representative organisations consider the measure is unnecessary, too complex, and creates inequitable outcomes. In contrast, the large superannuation sector supports the measure. At the time of writing, the Bills had not been referred to or reported on by any parliamentary committees.

Context written by They Vote For You volunteers (ODbL), reproduced unchanged.

Second reading: The second reading vote decides whether the chamber agrees with the bill in principle. A second reading amendment attaches commentary or conditions to that agreement without changing the bill's text.

Related bills

Superannuation (Building a Stronger and Fairer Super System) Imposition Bill 2026

By party

Party	Aye	No
Australian Labor Party	85	0
Liberal–National Coalition	0	35
Independent	8	0
Centre Alliance	1	0
Australian Greens	1	0

Every vote

AYE (95)

NO (35)

Other divisions this sitting day

What the House divided on around this vote, in order.

5 Mar 2026Bills — Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026; Second ReadingHouse 95–35
5 Mar 2026Bills — Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026; Consideration in DetailHouse 37–92
5 Mar 2026Bills — Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026; Consideration in DetailHouse 9–83
5 Mar 2026Bills — Treasury Laws Amendment (Financial Reporting System Reform) Bill 2026; Report from Federation ChamberHouse 95–33