100 days of the new government: What it means for your money

It's hard to believe, but Monday marks 100 days since the 2025 federal election in which Labor was re-elected with an increased majority.

Given that the parliament has only sat for seven days since the election, its fair to say that the Albanese government has been doing more agenda setting than policy implementation so far.

However, that's not to say that there hasn't been any action. With that in mind, here's an overview of how five key policies related to student debt, superannuation and housing are progressing.

1. HECS-HELP debt relief

Leading up to the election Labor promised that, if re-elected, its first priority in government would be to implement its student debt relief policy.

In essence, the proposal would see 20% of all debt wiped for current and former students with HECS-HELP and other eligible loans. In total, roughly $16 billion worth of debt would be cleared.

Well, last Thursday, parliament passed the debt relief legislation.

That means that more than three million Australians will see their student loan balances cut by 20% in the near future once the ATO applies the reduction.

2. Superannuation tax changes

It's hard to think of a policy that's received more media attention in recent months than the government's proposed change to the rate of tax applied to large superannuation balances.

The division 296 tax proposal would, amongst other things, increase the applicable tax rate on the portion of someone's super balance exceeding $3 million by 15%.

Originally proposed in the first term of the current Labor government, the changes have attracted pushback around the issues of indexation and unrealised gains.

So, where is the policy at? It's been reported that the government is holding back from introducing legislation until after the upcoming productivity roundtable which is being held from August 19 to 21.

3. Payday superannuation 

First announced in the 2023 federal budget, the government has been seeking to reform the timeframe in which superannuation is paid to workers - a reform generally referred to as payday super.

In essence, the proposal would require employers to pay super at the same time as wages (whether that's weekly, fortnightly or monthly). At present, super contributions can be paid on a quarterly basis.

Advocates argue that the change will help reduce instances of unpaid super and potentially increase super balances at retirement.

To date, formal legislation hasn't been introduced. But with a scheduled start date of July 1, 2026, for payday super to kick, it's likely only a matter of time before legislation is brought forward.

4. Help to Buy scheme

There's no doubt that housing affordability will be a major issue for the government to tackle this term, so one initiative it will hope gets up and running is the Help to Buy scheme.

The shared equity scheme is set to allow up to 40,000 eligible buyers purchase a new or existing home with a smaller upfront deposit and lower ongoing mortgage costs, as the government will step in with an equity contribution of up to 40% of the purchase price.

Legislation for the scheme actually passed parliament late last year but is also requires buy-in at the state and territory level in order for the scheme to be delivered.

As a result, it's currently anticipated that applications for the Help to Buy scheme will open up before the end of 2025.

5. National Housing Accord

Help to Buy is designed to make it easier for some buyers to enter the market, but the government's signature housing initiative is squarely aimed at addressing housing supply: the National Housing Accord.

Agreed to by the Commonwealth, states and territories back in 2023, the goal of the Accord is to help facilitate the construction of 1.2 million new, well-located homes over a five-year period from mid-2024.

So how is that target progressing? It's difficult to say definitively, but it seems like homes aren't coming online fast enough.

In an interview with the ABC this morning, housing minister Clare O'Neil noted that completion data for the first year of the Accord wasn't yet in.

However, an analysis published by the National Housing Supply and Affordability Council back in May forecast that 938,000 new homes would be completed during the five-year timeframe - 262,000 short of the 1.2 million Accord target.

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