Bert Van Manen (Forde, Liberal Party) Share this | Hansard source

Before I get into the substance of the bill, I would just like to correct something that my colleague from Canberra has just touched on. The mining resource rent tax was never, ever going to fund the three per cent increase in superannuation contributions. It was going to fund a reduction of one per cent in the company tax rate. But, as we have seen from the budget that has just been handed down, that has been done away with. So now the three per cent superannuation increase is going to be entirely paid for by employers, and they are not going to get any tax offset at all.

It is wonderful that—

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