Mathias Cormann (WA, Liberal Party, Minister for Finance) Share this | Hansard source

Our overall superannuation tax reform package has got a number of very important features to it which improve flexibility. One of the very important features—and I know that it is something that has been raised with us at various times by Senator Leyonhjelm as well—relates to providing access to concessional contributions to people under age 75 to claim a tax deduction for personal superannuation contributions, irrespective of their employment arrangements. That is very important, in particular to contractors and small business people. This will assist around 800,000 people, particularly benefiting those who are self-employed, partially wage and salary earners—for example, contractors. We also, in order to pay for the changes today, had to defer the implementation of the so-called catch-up provision to 1 July 2018. We are enabling, in particular, women and other carers with disrupted work patterns to make additional contribution to make up for the lost opportunity in the past. (Time expired)