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

I thank the member for her question and I stand by the comments I've made in relation to the norms within the taxation system at large. The rules are sector neutral. They give no preference to whether a fund is a regulated superannuation entity or is regulated by the tax office, being a self-managed superannuation fund. I fully expect that following the passage of these laws people will make decisions on whether they control their own superannuation investments through a self-managed superannuation fund or they go through a regulated superannuation entity based on their own time, need, expertise and personal circumstances. From the government's point of view, this is sector neutral and it is absolutely driven by ensuring that we have a sustainable set of taxation concession arrangements in the superannuation systems. And I repeat: even if somebody has more than $3 million within their superannuation fund, the high rate of taxation on that proportion of their superannuation savings over $3 million will still be incredibly concessionally taxed.

See this speech in context