Josh Frydenberg (Kooyong, Liberal Party, Assistant Treasurer) Share this | Hansard source

First I acknowledge those members who have contributed to this debate. The bill is aimed at reducing superannuation compliance costs for businesses, particularly small businesses, by simplifying the superannuation choice regime. This bill delivers on the government's commitment to reduce superannuation compliance costs for small businesses. This bill simplifies when a standard choice form must be provided by an employer to an employee. Under this bill, employers will no longer have to provide a standard choice form to temporary resident workers. The bill also means employers will no longer have to re-offer a choice of fund form when a superannuation fund the employer has been making contributions into merges with another fund. Importantly, we are not removing an employee's right to choose a superannuation fund if they wish to do so. This bill is part of a package of measures which will fulfil the government's commitment to reduce the superannuation compliance costs of small business. I commend this bill to the House.

Mr Husic interjecting—

I am very pleased that the member for Chifley has had a momentary vision of prudence and sense and is supporting this important bill, together with his colleagues.

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