Submission – Better Targeted Superannuation Concessions – Exposure draft legislation

The Super Members Council (SMC) broadly supports measures to make superannuation more equitable and particularly commends the Government’s decision to unfreeze the Low-Income Super Tax Offset in these proposed reforms. Lifting the LISTO will make super even fairer and stronger for Australians at the lowest end of the income and wealth spectrum – delivering a much-needed super boost to those who need it most.

SMC strongly supports the announced changes to align LISTO with changes to both the marginal income tax thresholds and Super Guarantee rate over the past 13 years. It is essential these changes are dynamic and future proof. Futureproofing this reform will deliver certainty on a major equity measure in super. Australian workers who rely on the LISTO are among the lowest paid – mostly women and young people working casual or part-time jobs.