Labor Government Secures Greens Support to Pass $3 Million Super Tax Bill

The tax rate for super balances above $3 million will increase, and a new 40 percent tax will be applied to those with over $10 million.Treasurer Jim Chalmers address the House of Representatives at Parliament House in Canberra, Australia on March 10, 2026. Hilary Wardhaugh/Getty Images3/10/2026|Updated: 3/10/2026The Labor government has secured the Greens’ support to pass its new superannuation taxes through the Senate.Prime Minister Anthony Albanese confirmed on March 10 that the Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026 will pass the upper house this week without amendments.