Albanese Pushes Stalled Superannuation Tax Reform After Two-Year Delay

Credit: PM Anthony Albanese FB page

In a possible confrontation with cross-party senators over the $2 million threshold policy, Prime Minister Anthony Albanese pledged Tuesday to move forward controversial superannuation tax reforms that have been sitting in parliament for two years.

Speaking at a building site in Melbourne, Albanese defended the government's superannuation reforms in the face of Greens party criticism and continuous parliamentary deadlock.

Albanese told reporters, "We must ensure that our superannuation system is equitable." "The parliament has been considering this for roughly two years."

The policy, which the government claims ensures wealthy Australians pay their fair share while protecting retirement savings for regular workers, would impose additional taxes on superannuation balances exceeding $2 million.

Noting that Labour controls 29 of the 76 Senate seats and needs cross-party support to pass the reforms, Albanese acknowledged the political math involved in the legislation.

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