Jo Briskey (Maribyrnong, Australian Labor Party) Share this | Hansard source

Former prime minister—and the architect of superannuation—Paul Keating once said, 'Superannuation was always about more than just a savings account; it was about the democratisation of capital, giving every worker a stake in the wealth of the nation they are building.' I see the weight of that promise every time I walk down Union Road or Puckle Street, or when I'm visiting local businesses in Essendon Fields. When we talk about Treasury laws and schedules, we're really talking about that stake in the nation. We are talking about the promise that a lifetime of work in Maribyrnong and across the country, whether you're a teacher in Keilor East or a nurse in Glenroy or a retail worker in Kensington, will lead to a retirement where you aren't just surviving but thriving.

In my time as an advocate for working people, I have spoken with parents and workers where the conversation isn't about global tax conventions; it's about the 'what ifs': What if I haven't saved enough? What if my super is being eaten away by fees? The bill before us today, the Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Bill 2025, is this government's answer. We're delivering this alongside our landmark payday super legislation. Payday super is a once-in-a-generation reform to fix a massive integrity gap. The ATO estimates that $5.2 billion in super went unpaid in 2021-22; that is $100 million every week that workers earned but never received. For a 34-year-old in my electorate, failing to recover these missing funds could reduce their retirement nest egg by $32,000. This bill ensures the system works for you, not the other way around. Today we've introduced additional changes that will make super even fairer from top to bottom and more sustainable in the long term. These changes will make a significant difference to low-income workers in my electorate, boosting their super and giving them a better retirement.

Let's go back to the first day of a new job. We've all been there—the nerves, the excitement and the stack of paperwork, which is often digital these days, that sits between you and your first shift. It's a moment of transition and, for many, it's a moment of vulnerability. Schedule 1 and schedule 2 of this bill focus squarely on this moment. Currently, the onboarding process is a bit of a minefield—a worker starts a new job, and in the rush to get their payroll details sorted they inadvertently open a new superannuation account. They didn't mean to; they already had a fund they'd been contributing to for years, but the system wasn't designed to show them their stapled fund—the one that belongs to them—at the right time.

By streamlining the choice-of-fund process, we are ensuring that a worker's existing fund is visible and accessible from day one. This isn't just about tidying up paperwork; it's about stopping the 'silent thief' of duplicate fees. In my community, we have a high population of young workers and people in the gig economy, who move between jobs frequently. If they open a new account every time they start a new contract, they are paying double, triple or quadruple administration fees and insurance premiums. For a young person in Moonee Ponds, losing just $100 a year to unnecessary fees can result in thousands of dollars lost by retirement age. From 1 July 2026, we are fixing this. We are making sure your super follows you so your savings stay in your pocket.

Further to this, schedule 2 introduces a ban that is long overdue. For too long, some onboarding software providers have treated a new employee's first day as an advertising opportunity. They are being paid to push specific super products, often ones that are more profitable for the provider than they are for the worker. When you're starting a new job, you should be focused on your new responsibilities and your new team. You shouldn't be pressured into a financial decision by a pop-up ad or a payroll app. This bill creates a safe zone for onboarding. It ensures that the information workers see is regulated, transparent and focused on their best interests, not on someone's commission. We are keeping the focus on MySuper products—the gold standard of regulated, high-performing funds—and ensuring that if an advertisement does appear, under the strict exceptions we've carved out, it is accompanied by clear, unambiguous disclosures. This is about honesty. It is about ensuring that the choice a worker makes is an informed one, not one they're pushed into.

I represent communities that are outward looking. We are home to people from every corner of the globe, and our local economy is increasingly connected to international markets. That is why schedule 4, the tax convention with Portugal, is more than just a diplomatic formality; it's a bridge. This is our first ever tax treaty with Portugal, and it will be our 47th overall. For the local businesses in my community looking to innovate, this treaty and others like it remove the hurdles. By reducing withholding tax rates on dividends, interest and royalties, we are making it cheaper for Australian businesses to access Portuguese capital and technology. We are also ensuring that people who earn income in both countries aren't being taxed twice on the same dollar. It's about fairness and it's about making Australia an attractive place for the kind of investment that creates jobs in the north-western suburbs of Melbourne that I represent. It also has a tough-on-tax edge. This treaty strengthens our ability to fight tax evasion. It allows tax authorities to exchange information and assist in collecting debts. It's a clear message from this government that, if you do business here, you play by our rules and you pay your fair share.

I want to turn to schedule 3. I must admit that at first glance it seems a little bit like the odd one out in a Treasury bill. We are debating the mechanics of superannuation and international tax treaties, and suddenly we find ourselves talking about scrums and lineouts. It's a bit weird to see the Rugby World Cup sitting alongside superannuation, but there is a very serious reason it is here. When we bid for major international events, like the 2027 men's and 2029 women's rugby world cups, we make promises to the world. We promise that Australia is a professional, reliable and welcoming host. Part of the entry price for hosting global tournaments involves providing targeted tax exemptions for the organisers.

While it might seem like a strange inclusion in this specific debate, it is about the economic livelihood of our cities. In Melbourne sport is its own religion. We are the sporting capital of the country. We know that a major sporting event brings benefits that ripple out far beyond the stadium. It's the extra shifts for the casual workers at our local bars. It's the bookings for our small transport companies. It's the tourism dollars that help our suburban cafes thrive. Most importantly for me, it's about legacy. I think of the young girls playing at local clubs in Melbourne today. When they see the world's best athletes competing here in 2029, they won't just be watching a game; they'll be seeing a future. So, yes, while it's a bit of a legislative sidestep to talk about rugby in a superannuation bill, it's a necessary one to ensure we remain a top tier destination for the major events that inspire our kids and boost our local economy.

Schedule 5 deals with deductible gift recipient status, and this is where the bill truly touches the heart of my electorate. The not-for-profit sector is the backbone of our community. When the government can't be there, these organisations are there supporting the vulnerable, protecting our heritage and advocating for change. Throughout my career, I have seen the incredible power of people coming together to demand a better future for them and their communities. Whether it's advocating for better education, providing crisis support or championing equality, these organisations need every bit of support they can get.

By granting DGR status, we are making it easier for everyday Australians to donate knowing that their contribution is tax deductible. We are supporting the helpers. From the restoration of St Patrick's Cathedral to the advocacy of Equality Australia, we are ensuring that the diversity of our communities' interests is reflected in our tax system. The removal of certain listings is also a necessary part of this process, ensuring that the system maintains its integrity and that tax concessions are only flowing to those who are actively delivering for the community. These groups are doing the heavy lifting in our civil society, and they deserve a tax system that encourages rather than hinders their growth.

Finally, schedule 6 looks at our wine industry. I'll be the first to admit that you won't find many vineyards in the middle of Maribyrnong. I've checked! I've been up and down Maribyrnong River, and I can confirm we are definitely more suburban sprawl than Shiraz soil. While we aren't treading the grapes in the north-west, we are the ones that move them. Our logistics hubs and transport workers rely on a thriving wine sector. This bill increases the WET rebate cap to $400,000 to give producers breathing room. This complements our broader support, including the increase to the excise remission scheme cap and our two-year draught beer excise freeze to ease pressure on local pubs and clubs. Those opposite, when they aren't fighting with each other, spend their time claiming to be the champions of the regions, yet they left our wine producers struggling under an outdated cap and trade doors that were slammed shut. They talk a big game, but it takes a Labor government to actually deliver the practical tax relief and trade partnerships that keep family vineyards viable and our local supply chains moving.

This bill doesn't reinvent the wheel; it ensures the wheel is turning for the worker. When we came to office, we inherited huge deficits and $1 trillion worth of Liberal debt. We know Australians are under pressure, which is why we're delivering two more tax cuts for every single taxpayer. The fundamental divide in this place is clear. While Labor protects the worker, those opposite still treat retirement savings like a political piggy bank. After a decade of delaying the super guarantee, they now want to raid the nest eggs of young Australians for housing, forcing the next generation to choose between a roof today and poverty tomorrow. They remain the party of 'no', stuck in a worldview where the only way for a young person to get ahead is to rob themselves of their own future dignity.

We are choosing action over obstruction. When the people of Maribyrnong go to work tomorrow, I want them to know that we are in their corner, ensuring that the system rewards their hard work. I commend the bill to the House.

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