Super tax more likely, Greens stand firm on $2m demand

Michelle Bowes and Phillip Coorey

Updated May 5, 2025 – 6.22pm, first published at 5.08pm

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Gains by Labor and the Greens make it more likely laws to impose higher taxes on big superannuation balances will be passed by parliament but the minor party will have a fight on its hands to make the measure kick in at $2 million.

But with the Greens on the brink of possibly losing all four lower house seats, Prime Minister Anthony Albanese warned the minor party not to block policy in the Senate. He claimed their election drubbing was a consequence of holding up housing and other progressive policies in the last term.

Michelle Bowes writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls.

Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence.