Nick Sherry (Tasmania, Australian Labor Party, Minister Assisting the Minister for Tourism) Share this | Hansard source

Thank you, Mr Deputy President. Minister Shorten is well and truly focused on a major set of reforms in the tax system, particularly the administration of the tax system, and well and truly focused on other issues in financial services as well as on improving the capacity and capability of Australia as a financial centre. I represent him in this chamber and I am very pleased to do so. I totally refute the nonsense that Senator Cormann has gone on about this afternoon. It would have been better if he had done his research and looked back to find out who introduced these penalties. It was a Liberal government. I do not know whether you, Senator Cormann, were actually in the Senate or in the parliament at the time of simpler super. My best recollection is that you were not, therefore I cannot criticise you, Senator Cormann, for failing to point out these penalties at the time of simpler super. There are certainly a lot of other senators—some now in this chamber—who were there at the time and did not point it out. I just want to put on the record that what Senator Cormann complains about was introduced by a former Liberal government.

Question agreed to.