Daniel Mulino (Fraser, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

So, can I just reiterate that this is a very modest measure which is well targeted at supporting the fairness and sustainability of the superannuation sector. Can I also say, in relation to the specific question that was raised, that it is important that all superannuation funds are designed so as to take account of diversification requirements and liquidity requirements. That is an obligation under the current law on all superannuation funds. That is something that is very important to bear in mind. It is important also to bear in mind that, if an SMSF has a farm or a business within the fund, it should be receiving commercial, arm's-length payments from that business or from that farm.

Can I conclude by saying that this is a very modest measure. This measure has been on the public books for well over two years. It was consulted on very broadly, and we took this measure to the last election. I certainly won't be taking lectures on the fairness of the superannuation system from a party that has opposed every single increase in the superannuation guarantee over the past 25 years.

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