QUESTIONS WITHOUT NOTICE
Ms CATHERINE KING (Ballarat—Minister for Infrastructure, Transport, Regional Development and Local Government) (14:39): I thank the member for Bass for her question, but I also just say to her what a delight it is to have her here in this chamber. It is so lovely to watch her developing into the job and to see the incredible compassion and care she is showing for young people and women right the way through this country and, in particular, for the people of Bass.
It's always a privilege to stand in this House as a minister of a Labor government and talk about superannuation, because Labor is the party of super. We created it, we will always defend it and we will always strengthen it and make it fairer. The changes announced by the Treasurer will boost the low-income superannuation tax offset, the LISTO, by $310 to $810 and will raise the eligibility threshold from $37,000 to 45,000 from 1 July 2027.
Because of these changes, in the 2027-28 year over 770,000 additional Australians will be eligible for LISTO and over 490,000 Australians will receive a higher LISTO payment. These changes will bring the total number of Australians eligible for LISTO to 3.1 million, of which around 60 per cent will be women. Women's economic equality is core business for this government, and now the government is delivering more to help low-income workers, predominantly women, by ensuring the superannuation system is stronger and fairer.
As I said, the CEO of Women in Super has called this 'a monumental victory for fairness in our super system'. She rightly pointed out that this reform is particularly significant for women who form the backbone of our essential services—carers, education aids, hospitality workers, sales assistants and health workers. Our reforms have be welcomed by HESTA, with HESTA CEO Debby Blakey saying this 'will help ensure more than a million low-income earners can build a more secure retirement and help create a fairer super system'.
It, of course, builds on the foundations we've already laid in paying superannuation on paid parental leave, which started on 1 July. Paying super on the Commonwealth parental leave scheme is benefiting around 180,000 Australian mothers each year, and around 95 per cent of Commonwealth parental leave payment flows to women. This is what a good Labor government does.
It makes sure that we are looking after working and low-income Australians. It makes sure that women in particular can have the opportunity to have a safe and secure retirement, and that is exactly what the Treasurer has done with the expansion of the LISTO scheme to so many people, particularly women.