Women in Super has welcomed the passage of legislation to abolish the $450 monthly income threshold for compulsory super payments in the Parliament late yesterday.
The threshold meant that the 300,000 workers earning under $450 a month – the majority of whom are women – were the only income taxpayers in the country to not have super paid on their wages.
Many Australians have a number of income sources that individually fall under the $450 per month threshold, meaning that although their total income is above the threshold, they weren’t getting any super.
Women in Super Chair Kara Keys said the removal of the threshold was long overdue.
“Women in Super has long campaigned for this change, because it’s one of the many measures needed to close the gender super gap,” Kara Keys said.
“We welcome the Government’s abolition of this unfair measure, and the bipartisan support for it in the Parliament.
“The gender super gap persists however, and further reform is required to prevent women from retiring with around 30% less super than men.
“This includes super being paid on paid parental leave.
“And to ensure that women are not unfairly or disproportionately impacted by future policies, we strongly advocate for a gender lens analysis to be placed on all proposed new budgetary measures.”