Dean Smith (WA, Liberal Party, Shadow Assistant Minister for Competition, Charities and Treasury) Share this | Hansard source

As briefly mentioned in my contribution on the substantive bill, the coalition is moving a number of amendments which will give effect to providing immediate relief to small businesses across our country who are suffering from labour shortages. In addition to that, it will remove a significant disincentive to many older Australians who want to re-enter the workforce. That disincentive is that the Work Bonus scheme provides up to $300 a fortnight before older Australians are penalised for every extra dollar they earn. The amendment will lift that from $300 a fortnight to $600 a fortnight.

We are confident that that is an initiative, is an incentive, that many older Australians will find attractive. Many of them will be encouraged and will desire to re-enter the workforce, for a variety of reasons—and we can't underestimate how important work is to people's self-esteem.

This has been predicated on a very immediate and urgent problem for many older Australians and that is the escalating cost of living. It is hurting older Australians the hardest. We think this is the right time through which to embrace these initiatives, amend this bill and provide that immediate relief for older Australians, and, in doing so, provide small- to medium-size businesses in our country with greater labour options.