Senate debates

Wednesday, 24 September 2008

First Home Saver Accounts (Further Provisions) Amendment Bill 2008; First Home Saver Account Providers Supervisory Levy Imposition Bill 2008

In Committee

11:03 am

Photo of Nick SherryNick Sherry (Tasmania, Australian Labor Party, Minister for Superannuation and Corporate Law) Share this | Hansard source

Yes, or feathered quills. Seriously, it is not as simple as it looks. I have explained the practical implementation issues around a means-test approach that would be very considerable with respect to a means-test application to this program. There would be a very significant IT challenge, to start with. I am happy to arrange a briefing at some time from the ATO if you do want them to go through the IT administration compliance requirements when a measure is means-tested as you would propose. From the experience they have in other areas, it is not a simple matter of saying that we will have a means test and tomorrow, or in the next month or two, you redesign the IT and when you switch it on it will all be smooth sailing. It is not that simple. We have to bear that in mind when considering measures like this.

Comments

No comments