David Bradbury (Lindsay, Australian Labor Party, Assistant Treasurer ) Share this | Hansard source

Firstly I would like to thank those members who have contributed to this debate. Schedule 1 amends the tax law to better protect workers entitlements to superannuation and to strengthen the obligations of company directors to help prevent fraudulent phoenix activity. The failure to withhold tax and pay superannuation amounts impacts all aspects of the economy. These amendments aim to ensure that compliant businesses and employees are not being disadvantaged by companies that fail to meet their obligations. Those opposite will say that they oppose this bill because the director penalty regime can apply to all directors whose companies fail to meet their obligations. What they fail to recognise, and what they fail to admit, is that the existing regime has applied this way for pay-as-you-go obligations since 1993 and for the entire time that they were in government.

It is no surprise, of course, that those opposite are willing to come into this place and to vote against a bill that seeks to protect workers' entitlements. We know that they are not interested in the superannuation of hardworking Australians. They opposed superannuation when it was first introduced and the now Leader of the Opposition is on the Hansard as having said that compulsory superannuation was the biggest con job ever foisted on the Australian people. They are strong words.

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