Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Bill 2025; Second Reading

Briskey argued that the bill protected workers from duplicate fees and aggressive marketing during job onboarding. Briskey highlighted the benefits of payday super and the Portugal tax treaty for local businesses. Briskey defended the inclusion of Rugby World Cup tax exemptions as necessary for hosting major events. Briskey emphasised that the reforms strengthened the integrity of the superannuation system for low-income workers.

Wilson characterised the bill as an omnibus measure designed to entrench the interests of industry funds and unions. Wilson alleged a corrupt cycle where union funds financed political campaigns through superannuation management. Wilson argued that the reforms hindered young Australians' ability to achieve homeownership by restricting access to their savings. Wilson called for greater transparency regarding union influence and opposed the restrictions on self-managed superannuation funds.

Campbell defended the bill as a continuation of Labor's legacy of strengthening superannuation. Campbell explained how the reforms would reduce duplicate accounts and protect workers from pressured decisions during onboarding. Campbell highlighted the economic benefits of hosting the Rugby World Cup and the integrity measures in the Portugal tax treaty. Campbell reiterated that superannuation is wages owed to workers, not a bonus, and praised the payday super initiative.

Joyce raised the issue of the First Guardian and Shield fund collapses, arguing that affected investors were being failed by the current compensation process. Joyce called for ASIC to pay out investors directly while the government pursued legal action against those responsible for the losses. Joyce criticised the bureaucratic delays and the stress placed on victims who had lost significant retirement savings. Joyce urged the minister to provide a clear resolution for these distressed individuals.

Repacholi supported the bill for its focus on fairness and transparency in the superannuation system. Repacholi highlighted the importance of preventing duplicate accounts for workers in mobile industries such as mining and construction. Repacholi emphasised the benefit of the increased wine equalisation tax rebate cap for regional producers in the Hunter Valley. Repacholi argued that the reforms protected workers from undue influence during job onboarding while preserving informed choice.

McCormack supported the amendment moved by O'Brien, criticising the bundling of disparate measures. McCormack acknowledged the benefit of the increased wine equalisation tax rebate for regional producers but opposed the superannuation changes. McCormack raised concerns about the First Guardian and Shield collapses, calling for better regulation and support for affected investors. McCormack argued that the legislative approach was poor lawmaking designed to force a political choice.

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Gregg supported the bill, arguing it addressed flaws in the 2021 stapling reforms by allowing employers to access existing fund details earlier in the onboarding process. Gregg stated that Schedule 2 restricts advertising of non-MySuper products during onboarding to prevent workers from being steered toward high-risk or underperforming funds under pressure. Gregg highlighted that the bill also includes measures to support the Rugby World Cup, establish a tax treaty with Portugal, update deductible gift recipient lists, and increase the wine equalisation tax producer rebate to $400,000.

Spender stated she would not oppose the bill but moved a second reading amendment urging the government to review the legislation's impact on competition and fund performance. Spender expressed concern that Schedule 2's advertising restrictions could entrench default funds and reduce incentives for innovation, particularly in venture capital and private equity investments. Spender supported the wine rebate increase and the addition of new deductible gift recipients but warned against unintended consequences of reduced market dynamism.

Roberts supported the bill, emphasising that it strengthens fairness and transparency in superannuation by streamlining the choice-of-fund process and prohibiting advertising during onboarding. Roberts argued that these changes reduce administrative burdens for employers and protect workers from duplicate fees and unsuitable default funds. Roberts also noted the bill's broader benefits, including tax exemptions for the Rugby World Cup, a new tax treaty with Portugal, and increased support for wine producers.

Violi opposed the bill, arguing that it narrows consumer choice by favouring industry superannuation funds linked to the union movement. Violi criticised the bundling of unrelated measures, such as wine rebates and sporting event tax exemptions, into a single bill. However, Violi explicitly supported increasing the producer rebate under the wine equalisation tax, raising it from $350,000 to $400,000, citing its importance for small wineries in his electorate.

Jordan-Baird supported the bill, framing it as essential protection for workers against exploitative employer practices during onboarding. Jordan-Baird highlighted that the reforms complement payday super legislation and help close the gender super gap by ensuring women receive super on paid parental leave. Jordan-Baird also referenced the low-income superannuation tax offset increase and argued that the bill empowers employees to make informed choices about their retirement savings.

Moncrieff supported the bill, describing superannuation as deferred wages that must be protected from commercial influence and duplication. Moncrieff argued that Schedule 1 and Schedule 2 ensure workers have clear information about their existing funds and are not steered toward products through paid promotions in onboarding software. Moncrieff linked these reforms to broader government efforts to combat unpaid super and strengthen accountability through the performance test.

Jarrett supported the bill, outlining the historical role of Labor governments in establishing and strengthening the superannuation system. Jarrett noted that the bill implements election commitments to streamline systems and reduce compliance costs. Jarrett highlighted the progression of the super guarantee rate and the inclusion of super on paid parental leave as key achievements of the current government.