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

Coffey argued that the bill protects workers from being steered into unnecessary new accounts during onboarding, which erodes retirement savings through duplicate fees. Coffey highlighted that Schedule 1 allows employers to access stapled fund details earlier, ensuring informed choice rather than removing it. Coffey noted that Schedule 2 bans commercial advertising during onboarding, addressing findings that software providers were undermining stapling reforms. Coffey also praised the inclusion of Equality Australia and The Parenthood in the deductible gift recipient listings, stating this supports their advocacy work and financial stability.

Doyle stated that the bill strengthens the superannuation system by reducing duplicate accounts and protecting employees from inappropriate advertising during onboarding. Doyle argued that earlier access to stapled fund details empowers workers to make informed choices, supporting the transition to payday super. Doyle highlighted that the tax exemptions for the Rugby World Cups follow established precedents for major sporting events and support local communities. Doyle also noted that the bill gives force to the tax convention with Portugal, reducing withholding tax rates and improving tax integrity.

Laxale argued that the reforms address the risk of duplicate accounts in electorates with lower median super balances, such as Bennelong. Laxale stated that Schedule 1 allows employers to request stapled fund details earlier in the onboarding process, ensuring workers can see their existing fund before making a choice. Laxley emphasised that Schedule 2 bans advertising during onboarding to prevent conflicts of interest where software providers promote specific products. Laxale linked these measures to broader government actions, including legislating the purpose of superannuation and boosting the low-income super tax offset.

Zappia argued that the ban on advertising during onboarding helps protect workers from unscrupulous practices, citing past collapses of managed investment schemes. Zappia stated that the increase in the wine equalisation tax rebate cap from $350,000 to $400,000 provides necessary relief to the wine industry, which is struggling due to oversupply and past trade barriers. Zappia noted that the tax convention with Portugal simplifies cross-border tax arrangements and helps combat multinational tax evasion. Zappia commended the bill as evidence of the government's commitment to sustaining the superannuation system.