The Albanese government’s plan to increase the tax on superannuation accounts worth more than $3 million is unlikely to pass parliament before the federal election, casting doubt on whether the impost will ever be implemented.

Labor chalked up a major win on Monday when the Greens capitulated and dropped their longstanding opposition to the government’s two key housing bills, but other proposed legislation was stalled, including the plan to double the tax on earnings relating to superannuation assets above $3 million.