Media releases

2021

Better Advice Bill passes parliament

The Morrison Government has today passed the Financial Sector Reform (Hayne Royal Commission Response—Better Advice) Bill 2021 (Better Advice Bill) and has fulfilled its commit

Supporting Australia’s FinTech sector

The Morrison Government is supporting Australia’s thriving fintech sector to attract record investment, talent and to create more Australian jobs.

Increased child care support brought forward

Around 250,000 Australian families will now benefit from increased Child Care Subsidy (CCS) from 7 March 2022, four months earlier than first expected.

New rules to support participation in Australia’s Consumer Data Right

The Morrison Government has today made amendments to the Consumer Data Right Rules (version 3 of the rules) that will support increased participation in the Consumer Data Right (CDR) by businesses

Better Advice Bill – Exposure Draft Regulations

The Morrison Government has today released for consultation exposure draft regulations and a draft legislative instrument underpinning the Financial Sector Reform (Hayne Royal Commission Respon

Release of Retirement Income Covenant Exposure Draft

The Morrison Government has today released exposure draft legislation that will introduce a Retirement Income Covenant to give retirees the confidence to spend their superannuation savings, while e

Morrison Government’s expanded Career Revive program supports increased women’s workforce participation

The Morrison Government’s expansion of its Career Revive program is supporting businesses to attract and retain women returning to work after a career break.

Review of occupational exclusions in default insurance in MySuper products

Today the Morrison Government released a consultation paper inviting stakeholder submissions on occupational exclusions in default insurance offered through MySuper products.

Improving the visibility of superannuation assets in family law proceedings

The Morrison Government has today passed through Parliament legislation to improve the visibility of superannuation assets in family law proceedings.

Your Future, Your Super reforms reveal underperforming MySuper products

As part of the most significant changes to superannuation in nearly 30 years, the Morrison Government is holding underperforming funds to account and strengthening protections for the retirement sa

ASIC red tape reduction unit welcomed

The Morrison Government has today welcomed the Australian Securities and Investment Commission’s (ASIC) plan to create a dedicated unit focussing on minimising regulatory costs for businesses and c

Review of Australia's payments system

The Morrison Government has today released the final report of the Payments System Review, which considered whether the regulatory architecture of the Australian payments system is fit‑

Temporary and targeted relief on ASIC levies for financial advisers

The Morrison Government is today announcing temporary and targeted relief for financial advisers by reducing the cost recovery levies charged by the Australian Securities and Investments Commission

Superannuation portfolio holdings disclosure

The Morrison Government has today released for consultation exposure draft regulations underpinning superannuation fund portfolio holdings disclosures to members, part of the Your Future, Your Supe

Energy consumers to benefit next from Consumer Data Right

The Morrison Government has today released exposure draft legislation that will empower households and businesses to easily and securely share their energy data to find the best deal suited to thei

Data Standards Chair reappointed

The Government has today announced the reappointment of Mr Andrew Stevens as the Data Standards Chair from 14 August 2021 until 28 February 2023.

Improving superannuation financial reporting

The Morrison Government is making important changes to ensure the superannuation system’s financial reporting and auditing framework is commensurate to the size and significance of the sector.

Consultation on Policy Paper for the Better Advice Bill Regulations

The Morrison Government has today released for consultation a Policy Paper on key parts of the Regulations to support the establishment of the single disciplinary body for financial advisers.

Finalisation of Your Future, Your Super Regulations

The Morrison Government today welcomes the registration of regulations to support the Your Future, Your Super reforms, which passed the Parliament on 17 June 2021.

Microenterprise program enables women to start up small businesses

The Morrison Government is providing $3.5 million to Grameen Australia to establish and deliver an innovative program to create entrepreneurial opportunities for unemployed women.