House debates Questions without Notice
Domestic, Family and Sexual Violence
Zaneta Mascarenhas Swan, Australian Labor Party
3:09 pm
My question is to the Assistant Treasurer and the Minister for Financial Services. How is the Albanese Labor government working to prevent and respond to financial abuse in both government systems and the private sector?
Daniel Mulino Fraser, Australian Labor Party, Assistant Treasurer
I thank the member for Swan for her question and also want to recognise the crucial role that she has played in progressing these issues, particularly in the financial abuse inquiry undertaken by the PJC on Corporations and Financial Services. I also acknowledge the work of Senator Deb O'Neill, who chairs that inquiry.
Financial abuse is an insidious form of family and domestic violence that can leave victim-survivors facing long-term financial hardship, debt and reduced economic security. The government is taking strong action to address family, domestic and sexual violence, and we know that this disproportionately affects women. Anger and violence manifest themselves in many ways, often gendered, including in the recent tragic events that we are reflecting on today. We must all do what we can to address it when and however we can.
Our approach has been led by the Minister for Social Services and also by Senator Gallagher, alongside Ministers Kearney, White and Leigh. It's a whole-of-government approach, with many members of the caucus also taking part. I also want to acknowledge the very constructive contribution by members of the crossbench and also by members of the opposition. There are many initiatives as a part of this where there have been members from right across the parliament standing together at press conferences or working together on policy. Earlier this month, the government tabled its response to the PGC report, which included supporting or supporting in principle 58 of the 61 recommendations in this groundbreaking report. The government has already begun implementing a number of the recommendations—preventing perpetrators of family and domestic violence from receiving victim-survivors' superannuation death benefits, with draft legislation to be released later this year; empowering the ATO to prevent rollovers into newly established SMSFs where there are concerns about fraud, financial abuse, misconduct or consumer harm; investing more than $180 million to reform the child support system to close loopholes that facilitate financial abuse and coercive behaviour.
Earlier this year, the parliament passed the survivors law with support from across the chamber, which prevents perpetrators from shielding assets within the superannuation system. We've also released a consultation paper on reforms to address the misuse of tax and the social security system as tools of coercive control. The reforms foreshadowed would enable debts created through financial abuse to be addressed and, where appropriate, liabilities to be waived for victim-survivors. The Albanese government is committed to ensuring we play our part in preventing financial abuse, and this includes working with financial institutions, regulators and the private sector. Last week, I and the Minister for Social Services hosted two roundtables with around 30 participants at each, including frontline agencies, industry representatives, and the ATO and DSS. We will continue to work to improve regulation in this area because no-one should be trapped in an abusive relationship by financial control, no-one should be denied the opportunity to rebuild their life— (Time expired)