Kim Carr (Victoria, Australian Labor Party, Minister for Human Services) Share this | Hansard source

I thank Senator Singh for her concern for the superannuation rights of the five million Australians who are employed by small business. This week the Department of Human Services is running a nationwide campaign to promote the Small Business Superannuation Clearing House. This service allows businesses with fewer than 20 staff to pay their workers' super contributions in one electronic transaction. The DHS clearing house then distributes the superannuation contributions to the nominated funds. It cuts the level of red tape for managers and it brings security for workers. All those benefits come at no cost to the business or to workers. It is a smarter, faster and cheaper way to operate. That is why business strongly endorses this service.

Increasing numbers of business owners are looking to the Commonwealth to help look after their workers. In the first two years of its operation, the clearing house has already transferred more than 560,000 individual payments, valued at some $316 million. Over 150,000 employees in some 24,000 small businesses are covered by the program, but we of course have the capacity to service many more. That is why we want to make sure that more businesses sign up to help secure the future of Australian superannuation for workers in small business.