Nick Sherry (Tasmania, Australian Labor Party, Shadow Minister for Banking and Financial Services) Share this | Hansard source

I criticise those planners but I am criticising, Senator Watson, the lack of action by the tax office once it knew that abuse was occurring in respect of Westpoint entities and its failure to go and check the investments in Westpoint through self-managed superannuation funds. It seems to me to be reasonable, as ASIC is investigating the activities of a number of planners with respect to the establishment of self-managed superannuation funds—that is fact; ASIC is doing that—and ASIC meets regularly with the tax office, so I am told by both ASIC and the tax office, that part of that investigation, given that the tax office has regulatory oversight of self-managed superannuation funds, would at that point be—