Daniel Mulino
Fraser · Australian Labor Party · Australia
“Second, the amendments introduce a mechanism for merger parties to seek extensions from the ACCC for the period in which they can put an approved acquisition into effect. The extensions can be up to six months each. Multiple extensions may be granted.”
“The reforms complement a broader suite of government reforms to strengthen integrity and accountability across the tax system and professional services sector.”
“The bill also establishes criminal and civil penalties and provides information gathering and enforcement powers to regulators to support compliance. Together, these powers create a coherent framework to support the continued availability and long-term viability of cash as a means of payment in Australia.”
“These amendments also reflect the government's commitment to listening and responding to stakeholder experiences to ensure the merger regime continues to promote competition and economic activity in the interests of Australians.”
“The second enables the ACCC to oversee designated entities, including fair and efficient pricing of cash distribution services, which is essential to maintaining access to cash. ACCC oversight will support fair, transparent and reasonable pricing outcomes, while helping maintain the long-term economic viability of the sector.”
“It also enables up to $400 million in funding support to ensure the continuity of critical cash distribution services. Funding support is intended as a last resort, limited to situations where an entity's resources and recovery tools are insufficient to address losses or threats to cash availability.”
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“This is an important accountability requirement, as it recognises that as auditors must comply with auditing standards set by ERA, there is a risk of actual or perceived conflicts arising for appointees who work in the industry applying auditing standards. The bill also bolsters transparency around the operations of ERA. All parts of meetings of both the governing council and standard-setting boards that concern the contents of particular standards must be held in public. Procedural rules governing the operations of the governing council will be set out in the legislation while rules and processes for the boards will be contained in legislative instruments subject to appropriate consultation requirements and parliamentary scrutiny.”
“At least one board must be established for each of the three 'categories' of standards currently set by the AASB and the AUASB, being accounting, auditing and assurance, and sustainability standards. The minister will also be able to confer on ERA via legislative instrument additional functions, including for example, responsibility for formulating a new kind of standard. This will enable any future standard-setting needs to be efficiently and effectively addressed by leveraging ERA's standard-setting expertise and governance structure. The bill also contains a new requirement that when making appointments the minister must have regard to ensuring the governing council as a whole has an appropriate level of representation of persons who are, and are seen to be, independent from Australian auditors.”
“The governing council will be the accountable authority of ERA with an oversight role covering ERA's full remit. Allowing the governing council to act collectively will promote confidence that standard setting cannot be overly influenced by the perspectives of any individual member or the interests of any particular sector, group or industry. The minister will also have the power to appoint non-voting associate members to the governing council who, while not forming part of the accountable authority, will be able to bring valuable perspectives to its decision-making. The governing council will create, appoint and oversee a number of internal standard-setting boards that are each authorised to make and formulate specialised standards.”
“The bill provides for governance arrangements for ERA which ensure alignment between responsibility for the body's performance and the capacity to drive that performance and address issues that arise in doing so. These reforms strengthen accountability by introducing new transparency and conflict-of-interest requirements for ERA. When organisations like ERA rely on current, specialised expertise to set high quality standards, it is natural that many of those experts will still be working in the field. That is why it's important to manage any real or perceived conflicts of interest in a practical and sensible way. The measure in this bill is designed to make sure the public can have confidence in both the integrity of the process and the standards that result from it. ERA will be led by a governing council.”
“Making the most of the greater flexibility that comes with having a single body is key to realising the core benefits and longer-term efficiencies of the reforms. The second is preserving elements of the existing system that have served us well in the past. The key focus here has been ensuring that Australia can continue to benefit from the high degree of skills and experience that professional experts in each relevant field bring to settling the technical aspects of our accounting, auditing and assurance and sustainability standards. ERA's new structure will allow it to effectively marshal and harness this expertise within the construct of a single entity by providing for day-to-day standard setting to continue to be undertaken by boards constituted by technical experts. The third design principle is accountability.”
“The legislation strengthens the existing system by better positioning it to respond to emerging developments both locally and internationally The introduction of the bill follows extensive consultation and consideration of feedback. I want to thank all stakeholders for their constructive engagement and insights. The structure and governance of External Reporting Australia has been designed with a view to balancing three key principles. The first is flexibility. By establishing a single body, the bill removes structural barriers and improves the capacity of our standard-setting framework to adjust to emerging issues and evolving priorities as needed over time. This includes taking on new standard-setting functions in the future if required.”
“Our standard setters play a crucial role, supporting the integrity of markets, enhancing investor confidence and ensuring accountability in public sector institutions. The creation of ERA will facilitate a key enhancement to the development and maintenance of standards for sustainability reporting—with the establishment of a standalone specialist board within ERA to undertake this work. It will put in place a durable framework that allows us to respond quickly and effectively to changes in reporting standards here and overseas, including setting new standards as the system evolves. This reform helps ensure the governance and structural arrangements of Australia's economic institutions and structural arrangements are best positioned to help build a more competitive, dynamic and productive economy.”
“I move: That this bill be now read a second time. This legislation delivers the biggest reform to our financial reporting standard setting institutions in over two decades. Integrity in our markets matters because, when people trust the system to be fair and honest, they're more willing to invest, innovate and plan for the future. That confidence underpins a strong economy for everyone. The creation of External Reporting Australia, or ERA, combines the existing standard-setting functions of the Australian Accounting Standards Board (AASB), Auditing and Assurance Standards Board (AUASB) and Financial Reporting Council. ERA will be responsible for accounting, auditing and assurance, and sustainability standards.”
“I move: That this bill be now read a second time. Appropriation (Parliamentary Departments) Bill (No. 2) provides additional appropriations of $9.2 million for the operations of parliamentary departments, specifically the Department of the House of Representatives and the Department of Parliamentary Services, for the remainder of 2025-26. Full details of the proposed expenditure are set out in the schedule to the bill, the explanatory memorandum, and the portfolio additional estimates statements. I commend this bill to the chamber. Debate adjourned.”
“The Department of the Treasury will receive over $325 million to provide loans to Housing Australia to support social and affordable housing projects as part of the Housing Australia Future Fund (HAFF), including HAFF round 3, which was announced in the 2025-26 MYEFO. Full details of the proposed expenditure are set out in the schedule to the bill, the explanatory memorandum, and the portfolio additional estimates statements. I commend this bill to the chamber. Debate adjourned.”
“I move: That this bill be now read a second time. Appropriation Bill (No. 4) 2025-26 seeks approval for appropriations from the Consolidated Revenue Fund of $3.5 billion for the 2025-26 financial year. These appropriations will support the following significant items. The Department of Defence will receive over $2 billion, including $1.5 billion brought forward to support the delivery of capabilities prioritised within the 2024 National Defence Strategy and the 2024 Defence Integrated Investment Program. The Department of Climate Change, Energy, the Environment and Water will receive $411 million, mainly to fund further voluntary water purchases to support water recovery targets under the Murray-Darling Basin Plan.”
“The Department of Defence will receive over $1 billion, including $985 million brought forward for updated expenditure requirements to implement the 2024 National Defence Strategy and 2024 Defence Integrated Investment Program. The Department of Home Affairs will receive $881 million to implement various programs to ensure Australia's security, prosperity and unity by safeguarding Australia's domestic interests from crises and threats, supporting the government response to the antisemitic Bondi terrorist attack and delivering on the government's 2025 election commitment to maintain Australia's cohesive multicultural society. Full details of the proposed expenditure are set out in the schedule to the bill, the explanatory memorandum and the portfolio additional estimates statements. I commend this bill to the chamber. Debate adjourned.”
“The Department of Health, Disability and Ageing will receive over $1.5 billion for various programs to improve the wellbeing and social and economic participation of people with disability, continue to ensure access to medicines, deliver evidence based health policy, improve access to comprehensive and coordinated health care and protect the health and safety of the Australian community. Funding includes $876 million for the National Disability Insurance Agency to provide reasonable and necessary supports for National Disability Insurance Scheme participants. The department will also receive $101 million to support Strengthening Medicare reforms.”
“This provides funding for the 2025-26 financial year costs of measures announced since the 2025-26 budget and ensures there is sufficient appropriation to cover variations in existing programs—for example, changes in costs for demand-driven programs. The bill provides funding to support the following significant items. The Department of Climate Change, Energy, the Environment and Water will receive over $2.9 billion, predominantly to continue support for the Cheaper Home Batteries Program.”
“I move: That this bill be now read a second time. Today, the government introduces the 2025-26 additional estimates appropriation bills. These bills are Appropriation Bill (No. 3) 2025-2026, Appropriation Bill (No. 4) 2025-2026 and Appropriation (Parliamentary Departments) Bill (No. 2) 2025-2026. These bills underpin the government's expenditure decisions made since the 2025-26 budget that relate to the 2025-26 financial year, including decisions made in the 2025-26 Mid-Year Economic and Fiscal Outlook (MYEFO). Appropriation Bill (No. 3) seeks approval for appropriations from the Consolidated Revenue Fund of $9.2 billion.”
“It forms part of the government's broader agenda to lift integrity across the financial system, including reforms to scam prevention and anti-money-laundering laws. I commend this bill to the House. Question agreed to. Bill read a second time. Ordered that this bill be reported to the House without amendment.”
“It avoids the complexity of designing a bespoke regime while ensuring that comparable activities face comparable regulation—same activity, same risk, same rules. Operators will need to meet minimum standards for how client assets are held, how transactions are managed and how risks are controlled. A single modern platform guide will replace multiple disclosure documents, giving consumers clear information about fees, custody arrangements, risks and rights. An 18-month transition period will give industry and regulators time to adapt, ensuring that implementation is smooth and practical. Ultimately, this bill strengthens trust in Australia's financial system. It protects consumers, supports innovation and helps secure Australia's position as a leader in responsible digital finance.”
“But the opportunities come with real risks. We have seen internationally what happens when digital asset businesses operate without appropriate safeguards: customer funds misused, systems breached and confidence damaged. Australians have also lost significant savings to scams and fraudulent schemes that exploit gaps in regulation. These risks cannot be ignored. This bill responds directly to those challenges. It amends the Corporations Act and the ASIC Act to introduce two new types of financial products: digital asset platforms and tokenised custody platforms. These are the businesses that hold assets on behalf of Australians, and they sit at the centre of the risks we must manage. By bringing these platforms into our existing financial services framework, this bill applies proven, well-understood obligations.”
“Firstly, I would like to thank those members who have contributed to this debate. In particular, I acknowledge the excellent contribution by the member for Moore, who I think very clearly explained the rationale for the Corporations Amendment (Digital Assets Framework) Bill 2025 and the benefits that will arise from the passage of this bill in relation to innovation in our economy. In line with his comments, I would start by saying that digital assets are no longer a niche technology. They are reshaping global finance and transforming how people trade, invest and hold value. Tokenisation in particular is creating new opportunities by turning real-world assets into digital forms that can be exchanged instantly and securely. Australia must keep pace if we want to remain a competitive and innovative financial centre.”
“I refer to my summing-up speech for the Excise Tariff Amendment (Draught Beer) Bill 2025. I won't repeat all of that but will simply reiterate that the government believes that this bill is also drafted in a way that strikes the right balance between supporting our pubs and clubs while maintaining budget sustainability, so, for that reason, we won't be supporting this amendment.”
“Since I didn't refer to the member for Calare's amendment explicitly in my summing up, I thought I would just briefly acknowledge the amendment and, as with the other amendments, acknowledge the intentions behind it. But I will just again say that the government believes that the bill as drafted strikes the right balance between supporting our pubs and clubs and maintaining budget sustainability. For that reason, we won't be supporting this amendment.”
“Lastly, in response to the member for Cowper's proposal to review the alcohol excise and customs tariff system, the government continues to closely monitor and assess the effectiveness of the tax system. For these reasons, we will not be supporting the amendments. This bill delivers targeted, responsible relief while complementing broader support for the economy. I commend these bills to the House.”
“Some members are asking us to reach instead to the top shelf for that round, and some are going further and asking us to put our card behind the bar indefinitely. We all love a celebration, but we're a responsible government, focused on the cost of living in a targeted and responsible way. The bill as drafted strikes the right balance between supporting our pubs and clubs and maintaining budget sustainability. The members may, however, be interested to know that the government has announced separate support for all beer brewers and spirits manufacturers in the 2025-26 budget, and I trust they will bring this to their constituents' attention. From 1 July 2026, the excise remission scheme cap will increase from $350,000 to $400,000 per year. These changes provide the greatest benefit to small craft brewers and distillers.”
“They're uncosted and would create substantial fiscal impacts. As Assistant Treasurer, I know too well the importance of responsible government spending. When we came to government, inflation had a six in front of it. Today it has a three in front of it. That is not an accident; it is a result of the disciplined economic management of the government. We've delivered two surpluses, spending restraint and savings that our predecessors could not deliver. Our cost-of-living measures have been responsible and targeted, just like this one. What we're proposing here is a round of beers for our pubs and clubs on the government. It's a gesture of goodwill to acknowledge the hard work of our hospitality industry—but it's a measure within our means.”
“Firstly, I would like to thank those members who have contributed to this debate. Together, the Excise Tariff Amendment (Draught Beer) Bill 2025 and the Customs Tariff Amendment (Draught Beer) Bill 2025 will pause biannual indexation applying to excise and excise-equivalent customs duty rates on draught beer for two years, starting from 1 August 2025. These changes deliver on the government's commitment to taking pressure off the price of beer poured in pubs, clubs and other venues, supporting businesses, regional tourism and customers across Australia. I want to acknowledge the amendments from the members for Warringah, New England, Cowper, Kooyong and Bradfield. While these amendments are well intentioned, they would significantly broaden the measure beyond its intended scope.”
“Users of the registries can have confidence that the government is correcting this error to maintain predictable and consistent business registry fees. I commend the bill to the House.”
“The government will not be supporting the amendment moved by the member for Ryan. Ensuring companies pay the right amount of tax means the services that the Australian community needs can be delivered. The Albanese government has strengthened the ATO to continue to do just that. The passage of the Corporations (Review Fees) Amendment (Technical Amendments) Bill 2025 affirms the longstanding fee structure for certain company review fees collected by the Australian Securities and Investments Commission. The government is addressing a technical error in regulations that have applied indexation to certain company review fees since 2011. The government has acted swiftly to ensure that the current fee structure does not need to change and that there will be no disruption to businesses and individuals who engage with the ASIC business registers.”
“Firstly, I would like to thank those members who have contributed to this debate. Can I acknowledge the contribution that was just made by the member for Chifley and chair of the House of Representatives Economics Committee? He made a number of observations about different players in the financial services sector and regulators, but I also wanted to acknowledge the great interest he's shown in the Shield and First Guardian matters, both as a local member and as the chair of the committee, and I look forward to him continuing to contribute to what is an extremely important and complex public policy issue. As he said, it is also, at its core, an issue that affects a lot of individual investors and families, and that is such a critically important dimension of that issue and the way that this chamber will deal with it going forward.”
“There were countless expressions of love and displays of courage, big and small, that night, and I commend and praise each of them. We need to draw on this love, kindness and compassion if we are to come together as a nation and heal. In the words of Rabbi Ulman: Darkness is not defeated by anger or force. Darkness is transformed by light, and that light begins with what each of us chooses to do next, and returning to normal is not enough. We must all commit to not returning to normal, to joining together and collectively finding a better path. In doing so we must remember, with the deepest respect, the lives of all the Australians that were lost. Again, in the words of Rabbi Ulman: May the memories of those we lost be a blessing. Light will win.”
“As a parliament, we must now act to ensure that we give meaning to this statement. Today is not a day to debate the specifics of next steps but rather to collectively commit to meaningful reform and protections, to commit to reaching for national unity wherever possible. I believe that humanity's capacity to hate and to dehumanise is far exceeded by our capacity for love and for courage. We saw that on 14 December from New South Wales police, from Hatzolah, from Ahmed al-Ahmed, from Bondi lifeguards and from locals who threw open their doors to shelter those fleeing the beach. Two of the victims, Boris and Sofia Gurman, courageously and selflessly stepped in to protect others. They tried to wrestle the gun away from an attacker. Tragically, this led to their own deaths.”
“For each family touched by this tragedy, the absence of their loved one will echo far into the future. The Jewish community at large will feel a collective grief and even greater worries about their security and safety. The 15 victims demonstrate so many of the strengths of Australia's Jewish community. They were people who have contributed to our society in so many ways, people who were leaders in their community. They were mothers, fathers, sisters and brothers. They included the older generation and the youngest. I want to make it clear that Australia's Jewish community has been an integral part of our broader society for over 200 years and that this will continue. You are not just welcome in Australia; you are an enduring part of our nation and of who we are.”
“Coming together in a public place to peacefully observe a religious ritual is the right of every Australian and a core element of our successful multicultural society. One central principle that unites all faiths and forms the foundation of our society is the sanctity and intrinsic value of human life. One of the most shocking aspects of this tragedy is that people were shot and killed simply for being Jewish—for their beliefs. Antisemitism is a manifestation of the urge to dehumanise. It is ancient. It is persistent. It is our obligation as a government and a community to defend against it and to eradicate it. We need to listen when Jewish people express their fears. Those fears are informed by centuries of experience. In addition to the horrifying scale of the events of 14 December is the profound tragedy of each individual life taken.”
“I rise this evening to offer my condolences to the families of those killed at Bondi, to their friends and to the entire Jewish community. It may sound trite to say that Australia will never be the same again, but it is true. I don't think we can overstate how terrible, how tragic and how unjust 14 December was. As part of the 2025 Hanukkah celebration, many members of the Jewish community in Sydney came together at Bondi, one of Australia's most famous locations. This was a peaceful public event at which innocent people were violently targeted. Dozens were injured and 15 of our fellow citizens are now dead—killed for who they are and what they believe in. Their passing has, rightly, shaken our nation. Today we honour their memory. We remember them with a deep and profound sadness.”
“I thank representatives from faith groups who made the trek to Canberra: the Venerable Thich Phuoc Tan from the Quang Minh Temple, Fatih and Ayten Yargi from the Australia Light Foundation, Suad Ibisevic from the Australian Bosnian Islamic Centre, Father Lal Zin Thang and Jacob Thang from Our Lady of the Immaculate Conception and the Chin community, and Michael Pavleski from Saint Ilija Macedonian Orthodox Church. Our multicultural and multifaith community is key to Australia's success. I'm grateful to everyone from my community who attended this year's breakfast. More broadly, I'm grateful to all across our community for all that you do—day in, day out—to make our community that much stronger.”
“They are so often intertwined with multiculturalism, providing a place to celebrate and preserve culture while also being involved with practical community services, supporting members of the community, and, particularly, assisting new arrivals settling in Australia. I recognise that people of all faiths are facing challenges. Strong interfaith relationships are essential for encouraging constructive dialogue between political, religious and broader leaders within the community and for helping to maintain unity among Australians.”
“The government passed laws that make it easier for unions to put in applications to put appropriate standards in place. Amazon may lead in technology and innovation, but its approach to worker involvement and worker voice lags. Worker voice is not only fair; it adds to productivity and should be embraced. This week is Make Amazon Pay week. This is a call for the company to respect the rights of their workers and to engage fairly and transparently, and I back in that call in this chamber. It was a pleasure to attend this year's federal parliamentary interfaith breakfast with faith leaders from my community. This event is one of the most significant events on the parliamentary calendar, and I appreciate the opportunity to invite leaders from Fraser to parliament. Faith groups are extremely important in my electorate.”
“As we reach the end of the year, Black Friday, Christmas and Boxing Day sales are great for finding a bargain. However, I would like to reflect on the often forgotten people who make our holiday shopping possible. Workers for Amazon are highly casualised and work long hours while their multinational employer reaps billions in profits. Amazon Flex drivers earn under the minimum wage, in many cases, because there are no standards yet in place. In addition, there are so many instances of individuals recounting stressful incidents at work due to inappropriate practices. Amazon has been resistant to unionisation efforts, but the union movement, particularly the SDA and the TWU, are campaigning for change and have been fighting hard for workers' rights since Amazon opened in Australia.”
“I move: That so much of the standing and sessional orders be suspended as would prevent further statements of no longer than 10 minutes each on the Domestic, Family and Sexual Violence Commission's yearly report to Parliament being permitted in the House. Question agreed to, with an absolute majority.”
“Through regulations, we're making matching changes for brewers and distillers too. From 1 July 2026, the excise remission cap for eligible alcohol manufacturers will also rise from $350,000 to $400,000 a year for beer and spirits entered for home consumption. That keeps support for wine, beer and spirits in step. Together, these changes back local producers, keep money flowing through regional towns and support investment and jobs. In the spirit of these changes, I welcome recommendations of your favourite drop. Full details of the measure are contained in the explanatory memorandum. Debate adjourned.”
“To maintain trust and integrity in the DGR system, the schedule also removes entities that have either voluntarily requested removal or no longer operate for the purpose for which they were originally provided DGR status. I finish with a topic close to my heart: wine. When we introduced legislation last month to freeze draught beer excise increases, we wanted the rest of the alcohol industry to know there was a place in our hearts for them too. Schedule 6 delivers on the Albanese government's 2025-26 budget commitment to provide tax relief for Australia's wine producers. Currently, all eligible wine producers can receive a rebate of wine equalisation tax up to a cap of $350,000. These changes will increase the cap to $400,000 per financial year from 1 July 2026. And we didn't stop at wine.”
“Schedule 5 to the bill amends the income tax law to specifically list the following entities as deductible gift recipients: Coaxial Foundation, Community Foundations Australia, Equality Australia, Foundation Broken Hill, Partnerships for Local Action and Community Empowerment, Paul Ramsay Foundation, Social Enterprise Australia, St Patrick's Cathedral Melbourne Restoration Fund, Sydney Chevra Kadisha, the Great Synagogue Foundation and the Parenthood Project. Specifically listing an organisation encourages philanthropic giving and supports the not-for-profit sector as donors may claim income tax deductions for donations to organisations with DGR status.”
“Schedule 4 puts Australia's new tax treaty with Portugal into law, adding to the attractiveness of Australia as an investment destination. This is the first agreement of its kind between our countries. It opens the door to deeper commercial, investment and innovation links by cutting withholding tax rates on dividends, interest and royalties. That means fewer tax barriers, cheaper access to foreign capital and stronger incentives for Australian and Portuguese businesses to invest. It also strengthens tax integrity. The treaty reinforces the Albanese government's agenda to ensure multinationals pay their fair share by enabling information-sharing between tax authorities and improving cooperation on debt collection. That reduces opportunities for evasion and avoidance and helps to protect the Australian tax base.”
“The men's and women's World Cups will draw hundreds of thousands of international visitors, fill hotels, put bums on seats in our pubs and restaurants, pack out our stadiums and showcase Australia on the world stage in the lead-in to Brisbane 2032. The amendments will provide income tax exemptions for event delivery companies and joint venture partners and a withholding tax exemption for certain payments to foreign entities through to 30 June 2031. These settings align with what we've put in place for other major global sporting events hosted here, including the 2023 FIFA Women's World Cup and the 2020 ICC T20 World Cup. They're critical to ensuring Australia remains a competitive and attractive destination for global events.”
“This amendment reinforces the government's commitment to supporting Australians to make an informed choice about their superannuation while providing strong consumer protections. It will protect employees from being unduly influenced to make uninformed decisions, open inappropriate products and unintentionally create duplicate accounts. As under existing choice-of-fund rules, employees will still be able to choose any available super fund. Schedule 3 provides targeted tax exemptions to help Australia host the men's and women's Rugby World Cup in 2027 and 2029. These games aren't just two events on a calendar. They're part of a long national tradition of hosting sports that brings people together. World Rugby chose Australia in 2022 for a good reason. We're a country that competes.”
“And the condition to show an employee their stapled fund is an important consumer protection that will provide the necessary information and context to make a better-informed decision. The ban also does not apply to a person advertising in the ordinary course of business. The government has consulted with stakeholders on this amendment, and there was broad support for the changes and an understanding of the benefits that superannuation stapling brings to reducing unintended duplicate accounts. By requiring stapling as a condition of advertising a MySuper product during onboarding, the bill strikes the right balance in giving employees as much transparency as possible while providing flexibility for service providers to ensure their systems are ready and aligns with the implementation of Payday Super.”
“A review of the Your Future, Your Super laws uncovered inappropriate behaviour where software providers are undermining stapling and directing employees towards advertised products, including those associated with the software provider. The government committed to stop this inappropriate behaviour. This amendment introduces a ban on advertising superannuation products to an employee, specifically at the point of employee onboarding when starting a new job. This is a key moment when employees engage with their superannuation and should be able to do so in an informed and safe way. The following exceptions will apply so that only certain types of superannuation products can be shown or advertised to employees: MySuper products are default superannuation products which are subject to strict regulation and the annual performance test.”
“This amendment supports the government's commitment to reduce unintended duplicate accounts, which can erode retirement savings through duplicate fees and insurance premiums. It will also give employers more timely and accurate superannuation details, supporting their readiness for the government's payday super reforms. Schedule 2 to the bill amends the Corporations Act 2001 to impose a ban on advertising superannuation products to employees during onboarding, with certain exceptions. Australians deserve protection from inappropriate advertising when they provide their superannuation details to an employer during onboarding.”
“This prevents employees unintentionally opening new superannuation accounts every time they start a new job. This amendment provides greater flexibility for employers, or their agents, to request an employee's existing stapled fund details from the ATO earlier in the onboarding process. That way, if a stapled fund exists, the employer can provide those details to the employee during onboarding to help inform their choice of fund. This amendment supports the government's commitment to empower employees to make informed choices by making it easier to see, consider and select their existing super fund when they start a new job, if they choose to do so. As under existing choice-of-fund rules, employees will still be able to choose any available super fund.”
“I move: That this bill be now read a second time. This bill introduces a number of important reforms to the superannuation and tax laws to implement our election commitments, streamline systems and processes and reduce compliance costs for taxpayers. Schedule 1 to the bill amends the Superannuation Guarantee (Administration) Act 1992 to streamline the superannuation choice of fund process during employee onboarding. Australians deserve to make an informed choice about their superannuation fund when they start a new job. 'Stapling' was introduced to ensure employers pay superannuation contributions to an employee's existing super fund if they do not make a choice. If an employee does not make a choice of fund, their employer can request stapled fund details from the ATO to pay contributions to.”
“We have listened, improving regulatory clarity and ensuring seamless interaction with existing law. The government is committed to strengthening Australia's position as a global leader in financial innovation—one where technology supports productivity, competition and long-term economic resilience. Full details of the measure are contained in the explanatory memorandum. Debate adjourned.”