Media releases

2012

Government Reforms Boost Super Savings and Lower Industry Costs

The Gillard Government has a strong record of delivering reforms that boost Australians' superannuation savings.

Australian Government Actuary Report Investigation into Strata Title Insurance Price Rises in North Queensland

The Minister for Financial Services and Superannuation today released the Australian Government Actuary's (AGA) report into strata title insurance price rises in North Queensland. 

Productivity Commission Recommends Expert Panel Decide on Suitable Default Super Funds

The Gillard Government today released the Productivity Commission's (PC) final report into default superannuation funds in modern awards.

A Super Milestone for Small Business

The Gillard Government's Small Business Superannuation Clearing House has reached a milestone, passing half a billion dollars in superannuation payments this week.

Trans-Tasman Super Portability a Step Closer

The Minister for Financial Services and Superannuation, Bill Shorten, today introduced legislation to establish a trans-Tasman retirement savings portability scheme.

Fair Work Act Review Consultation with Small Business

Minister for Employment and Workplace Relations Bill Shorten and Minister for Small Business Brendan O'Connor today met with a number of small business representatives as part of the Government'

Appointment of First Female Chair to the Australian Reinsurance Pool Corporation (ARPC)

The Minister for Financial Services and Superannuation, Bill Shorten, today announced the appointments of Ms Joan Fitzpatrick and Ms Melinda Howes to the ARPC.

Government welcomes increasing flood insurance coverage

The Minister for Financial Services and Superannuation today welcomed new data by the Insurance Council of Australia, which shows 78.1 per cent of home and contents insurance policies contained

Government releases draft legislation for trans-Tasman retirement savings

The Minister for Financial Services and Superannuation, Bill Shorten, today released draft legislation to establish a trans-Tasman retirement savings portability scheme, expected to assist the th

Liberals confirm tax hike for 3.6 million workers

The Federal Coalition confirmed their plans to raise taxes on 3.6 million Australians earning up to $37,000 by slashing the Gillard Government's low income superannuation contribution (LISC).

Government releases paper on APRA's resolution powers

The Minister for Financial Services and Superannuation, Bill Shorten, today released for public consultation a paper titled Strengthening APRA's Crisis Management Powers which seeks comm

Do a Money Health Check in MoneySmart Week

The first ever MoneySmart Week is underway – and the Australian Government is encouraging Australians to carry out their own 'money health check'.

Super roundtable agrees to promote small business clearing house

The Gillard Government made further progress towards smarter, simpler, and fairer superannuation with the fourth meeting of the Superannuation Roundtable in Melbourne today.

Business embracing Government's MySuper reforms

The Minister for Financial Services and Superannuation Bill Shorten today officially launched ING Direct's new superannuation fund.

Australia to Host International Symposium on an Integrated Financial Market for the Asia Pacific

Australia will host an international symposium on regional financial market integration in 2013, bringing together private sector leaders and regulators in the financial services industry from a

Tax reform boosts financial services outlook

Australia's financial services industry will benefit from the Tax Laws Amendment (Investment Manager Regime) Bill 2012 which was today passed by Parliament.

Government's MySuper Bill Passed by House of Representatives

The House of Representatives has today passed legislation that will deliver on the Government's 2010 election commitment to introduce a new simple, low‑cost default superannuation product called

Government Supports Evidence Based and Expert Led Process for Default Funds

The Gillard Government is proposing an evidence based and expert led process for selecting and assessing default superannuation funds in modern awards which will ultimately lead to more transpar

Payday borrowers better protected as bill passes Parliament

Borrowers who use payday loans will be better protected than ever before, following the introduction of Australia's first national cap on payday loans, with passage through Parliament today of th

Refund of Excess Contributions Tax Enacted

The Gillard Government has enacted regulations to enable an estimated 30,000 individuals to benefit from refund of certain excess concessional contributions.