Stephen Jones (Whitlam, Australian Labor Party, Shadow Assistant Treasurer) Share this | Hansard source

I'll make a short contribution on the three schedules of the Treasury Laws Amendment (2020 Measures No. 5) Bill 2020 and foreshadow that I'll be moving an amendment at this second reading stage. I understand the honourable member for Cunningham has indicated she will be so kind as to second that amendment.

Schedule 1 of the bill amends the Income Tax Assessment Act 1997 to introduce a new legislative instrument-making power into the income tax laws to make an eligible state or territory coronavirus business grant free from income tax. We expect that this tax treatment will be extended to some very worthy programs that are being implemented by various state and territory governments to support small businesses, including the Victorian government's coronavirus business grant scheme and schemes that have been rolled out by the Barr government here in the ACT, the Palaszczuk government in Queensland, the McGowan government in Western Australia—in fact, state governments around the country. We obviously support the measure, but it is worth noting how much heavy lifting the state governments are doing, and how much this government's economic comeback, as I understand the branding dictates we refer to it, is reliant on state government investments. They paid a lot of money for that slogan; they could have given me a call—for 50c I'd have given them some good advice on that!

It's state and territory governments who overwhelmingly are responsible for investing in infrastructure. Indeed, Labor state and territory governments across the country are investing in record amounts, and I want to acknowledge that. It is the state and territory governments who have been left holding the bill for the health and public order costs of this pandemic, something that is often glossed over in this place. I want to acknowledge that contribution by the state and territory governments here today. And it's state and territory governments, like the Victorian government, under the leadership of Premier Dan Andrews, who are delivering necessary support for Australian businesses, as are other state premiers around the country—McGowan; Palaszczuk; Chief Minister Barr here in the ACT, who I've already mentioned; and Gunner in the Northern Territory. The government are letting state and territory governments pick up the bill while they leave too many Australian unemployed or underemployed for too long.

I want to address schedule 2 of the bill. This improves the trans-Tasman retirement savings portability arrangements put in place by the Labor and the New Zealand governments back in 2009. Earlier this year I had the pleasure of meeting with the New Zealand high commissioner, Dame Annette King, to discuss this very issue. I advised Dame King at the time that Labor would give full support to regularising and improving these transfer arrangements. Dame King has been a great advocate for New Zealanders here in Australia, on this issue and on many other issues as well. I thank her for her continuing interest—in fact, her long tradition of cooperating and consulting between our two great nations. It is worth noting that in a past life Dame King worked to improve trans-Tasman relations as the New Zealand Minister of Transport, and Minister of Justice and Police under the prime ministership of that great New Zealander and great friend of this country, Helen Clark.

Schedule 3 of the bill also amends the Income Tax Assessment Act 1997 to include Neighbourhood Watch Australasia Ltd on the list of deductible gift recipients. We support this, and we'd encourage the government to look at many other applicants for DGR status. Sometimes it appears that some organisations that are equally worthy as those that are approved in bills such as this before the House are overlooked by this government. We encourage them to take a much more equitable approach to this issue.

I'll move to the second reading amendment that I intend to move. I move:

That all words after "That" be omitted with a view to substituting the following words:

"whilst not declining to give the bill a second reading, the House:

(1) notes the Government’s economic support for small businesses and ordinary Australians during the coronavirus pandemic has been insufficient;

(2) further notes the Government has been happy to take credit for the measures put in place by the States and Territories to protect the health, livelihood, and businesses of ordinary Australians; and

(3) calls on the Government to commit to implementing its election promise to deliver the legislated increases to superannuation".

Before the election, the Prime Minister promised the Australian people that money would be paid to them through their superannuation arrangements. He now wants to change the law so that the money will not be paid. This is unconscionable. When the Prime Minister himself receives 15.4 per cent in superannuation contributions, he's saying to the rest of the country that 9½ per cent is enough for them.

This occurs at a time when retirees are very nervous indeed. There are constant changes to superannuation laws and arrangements at the time when they're trying to sort out their retirement savings, and it comes at a time when the government has frozen the pension. They know that the government has cut health spending. They know that the government has made an absolute mess in aged care. And it appears to them that the government is now saying, 'If you run out of money in retirement, what you must do is sell your house.' This is not good enough. Retirees in this country deserve better, and we'll be keeping the government to account. There'll be a bare-knuckle fight on this if the government moves ahead with its plan to slash the retirement savings of hardworking Australians.

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