Madonna Jarrett (Brisbane, Australian Labor Party) Share this | Hansard source

I rise in support of the Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Bill 2025. This bill introduces important reforms to superannuation and tax laws to implement our election commitments, streamline systems and processes, and reduce compliance costs for taxpayers. Let's start with super. Labor is the party of superannuation. Why? Because Labor is the party for workers.

Let's look at some history. Superannuation in Australia began as a limited benefit salary for white-collar workers, gradually expanding through the union negotiated industrial awards until the early 1980s. A major shift occurred in 1983 with the support of the Labor government under the leadership of Bob Hawke. That government was an architect and proponent of the Prices and Incomes Accord, which exchanged national wage rises for a three per cent superannuation contribution, laying the foundations for universal coverage.

The most significant reform followed in 1992, under the Keating Labor government. That recognised our ageing population and the unaffordable strain the growing age pension payments would have on the Australian economy. As a result, the superannuation guarantee, a compulsory employer contribution, was introduced. Starting at three per cent, it became part of a three-pillar retirement income system. Although Keating proposed compulsory employee contributions from 1997, this element was cancelled by the Howard Liberal government.

Subsequent governments built on or altered these foundations. The Howard government allowed the employer super guarantee rate to rise to nine per cent in 2003, and restricted super guarantee calculations to ordinary time earnings. It was the Rudd-Gillard government, a Labor government, that later legislated to increase the guarantee from nine per cent to 12 per cent between 2015 and 2019. But, as history says, it was the Abbott government, a Liberal government, that deferred these increases by six years, pushing the commencement to 2021. These deferrals and reversals are typical of the coalition, who have a track record of not supporting workers.

More recently, the super guarantee rate reached 10½ per cent in 2022. Guess who was in government then? Yes, the Albanese Labor government. It's reached 12 per cent, supported by reforms aimed at improving fund portability and performance. This Labor government has also legislated that superannuation be applied to government paid parental leave.

Debate interrupted.

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