By Member for Forde Rowan Holzberger
If you work hard in Logan, you deserve a fair go and a dignified retirement.
That’s something I hear often when I’m out in the community at mobile offices, community BBQs and while door-knocking.
People tell me they don’t expect special treatment, but they do expect the system to reward hard work and treat them fairly.
Listening to those concerns matters. It is why I have been pushing for practical changes that strengthen retirement outcomes for low-income workers.
For too long, parts of the superannuation system have not worked the way they should.
Many low-income workers have actually been paying more tax on their super than on their regular income.
The savings meant to support people in retirement are taxed at a flat 15 per cent, which means some workers on lower incomes have effectively been taxed more heavily on their super than on their wages.
That never made much sense.
This week, Parliament took an important step to fix it.
The Albanese Labor Government’s reforms to the Low Income Superannuation Tax Offset, known as LISTO, passed the Senate.
These changes will make sure low-income workers are not penalised for saving for their future.
From 1 July 2027, the income threshold will increase from $37,000 to $45,000 and the maximum rebate will rise from $500 to $810. In simple terms, it means more of your super stays in your super.
Here in Forde, the impact will be significant.
Analysis from the Super Members Council shows more than 11,300 local workers will benefit from the change, including 3665 men and 7688 women.
On average, workers will receive about $402 extra in their super, with around $4.6 million flowing into retirement savings across the electorate.
These are not abstract numbers.
They are the retail workers in Beenleigh, hospitality staff in Eagleby, carers in Logan Reserve, teacher aides in Holmview, and disability support workers and cleaners who keep our community running every day.
If you have worked hard and contributed to your community, you deserve to retire with dignity.
These reforms are a practical step toward making that happen.
